Question 1: 20 Alpha Marine is a boat repairing company, started its business in January 1, 2014. During the month of Jamary following transactions took place. Jan 01: Business made an investment of $500,000 in cash. Jan 02: Paid Rent $6,000 for repair shop for 3 months in advance. Jan 03: Purchase repair equipment $80.000, paid cash $30,000 and for remaining balance, NP is signed Jan 04: Provided repair services to Kiwi Insurance and sent a bill of $5,620 to the client. Jan 05: Paid $350 for advertisement in Yachting World, the advertisement will be printed in February and March issues of magazine. Jan 06: Received $6.750 from City Insurance group to repair 50 boats. The Business will provide repair services to boats on request of City Insurance in future. Jan 07: Made repairs on the vessel Independent totaling $1.890. Collected $400 cash and remaining balance is due in 30 days. Jan 08: Business received $5,000 for repairing the vessel Sprit. Jan 10: Business borrowed $ 10,000 by signing a Notes Payable for 12 months at interest rate of 15% per anmm Both interest and principle will be paid at maturity. Jan 11: Business paid 50% of notes payable created on Jan 03. Jan 12: Business paid for travelling expenses of $400 to meet a client. Jan 13: Business received cash of $4.000 for repairing a vessel called Discovery. Jan 14: The client of vessel Discovery claimed that the repairs are not made properly to his vessel, therefore business paid $250 to compensate for the poor repair work. Jan 15: Additional investment is made by investing cash of $20,000 from personal sources. Jan 20: Business paid $3,000 in hosting a party for prospective clients. The appropriate account is entertainment expenses. Jan 22: Business provided repair services to vessel Honor for $7,000. Client paid $4,000 and singed Notes Payable for remaining balance. Jan 25 Business provided repair services to vessel Luxurious for $6,000. Client paid $1,000 and signed Notes Payable for remaining balance. Jan 31 The equipment's expected useful life is 3 years and salvage value is $20,000. Business recorded Depreciation of Equipment. Jan 31: Business recorded utility expenses of $800. Jan 31: Business recorded interest expense for January. Jan 31: Business adjusted rent account for January. Jan 31: The business repaired 17 boats for City Insurance during January. Jan 31: Business Declared and paid dividend of $2,500. Requirements: Record these transactions in General Journal Format. Post these transactions is Ledger (T-Accounts) Prepare Trial Balance Prepare Income Statement and Balance Sheet