Project part A

R$1$: Record the following transaction of Mr$.$ Fawaz in General Journal, post them into Ledger, and also prepare Trial balance.

Fawaz started business with cash SR $70000.$

Purchased Furniture from Ali SR $10000.$

Services provided and cash received SR $40000.$

Owner with drew SR $4000$ for personal use.

Paid salaries SR $12000,$ and Rent SR $500.$

Insurance paid SR $5000.$

Paid supplies expenses SR$.1200.$

Get loan from Bank SR $50500.$

Purchased Building for cash SR $40000.$

R$2$: Prepare income statement and balance sheet from the following trial Balance

$\backslash$table$[[$Debit accounts,SR$,$Credit accounts,SR$],[$Cash$,97800,$Account payable,$10000],[$Insurance expenses,$5000,$Bank loan,$50500],[$Building$,40000,$Capital,$70000],[$Drawings$,4000,$Service revenue,$40000],[$Salaries expenses,$12000,,],[$Rent expenses,$500,,],[$Supplies expenses,$1200,,],[$Furniture$,10000,,],[$Total$,170500,$Total,$]]$