Q no 1) Mr. John is the accountant of Excellence manufacturing company. He is required to record the business transactions for the month of September 2020. (20) September 1 September 4 September 8 September 9 September 10 September 12 September 15 September 18 September 20 September 21 September 22 September 24 September 26 September 29 September 30 September 30 September 30 The business is started with $200000 (20000 shares and price of each share is $ 10). Land for $40000 is purchased and paid $ 10000 in cash and remaining amount is paid through a note payable. Building for $ 20000 is purchased on cash Office Supplies for $ 10000 is purchased on credit. Machinery for $18000 is purchased half on cash and half through note payable. Inventory for $ 6000 is purchased fromsupplier on credit. Bill of electricity is paid for Rs. $ 1200. Telephone bill for $ 800 is received and yet not been paid. Office rent for $ 3400 is paid. Maintenance charges of machinery are paid for $1100. Sales generated from an order, placed on credit for Rs. 15000 Salaries are due for $ 8500 and not paid as of yet. Depreciation is charged on machinery (the useful life is 05 years). Amount of office supplies purchased on September 9 is half paid. Revenue earned by selling products is $10200 and cash received. The Company received 40% cash from the transaction of September 22. Company paid 2000 tax on its profit. Instructions: * Record the journal entries Post the transactions to ledgers Prepare Trial balance Prepare an income statement, statement of owner's equity and balance sheet