Problem 2 (6 points) (CLO. 2.1) 1st March, Jerry Company start a business: depositing 20,000 in a bank account (capital was raised partly from the owner 6,000 and from borrowing 14,000) 2nd March, bought a motor van for 5,000, paying by cheque 3rd March, bought inventories (goods to be sold) on one month's credit for 3,000 4th March, repaid 2,000 of the amount borrowed to the lender, by cheque 6th March, owner introduced another 4,000 into the business bank account 7 th March, sold all of the inventory for 5,000 & received a cheque immediately from the customer for this amount Instructions 1. Journal entry 2. Prepare Trial Balance at December 31, 2020 (1 point) 3. Prepare Balance Sheet at December 31, 2020 (1 point) 4. Prepare Income Statement at December 31, 2020 (1 point) 5. Prepare Closing entries at December 31, 2020 (1 point)

1st March, Jerry Company start a business: depositing 20,000 in a bank account (capital was raised partly from the owner 6,000 and from borrowing 14,000 ) 2nd March, bought a motor van for 5,000, paying by cheque 3rd March, bought inventories (goods to be sold) on one month's credit for 3,000 4th March, repaid f2,000 of the amount borrowed to the lender, by cheque 6th March, owner introduced another 4,000 into the business bank account 7th March, sold all of the inventory for 5,000& received a cheque immediately from the customer for this amount Instructions 1. Joumal entry 2. Prepare Trial Balance at December 31,2020 (1 point) 3. Prepare Balance Sheet at December 31,2020 (1 point) 4. Prepare Income Statement at December 31, 2020 (1 point) 5. Prepare Closing entries at December 31,2020 (1 point)