QUESTION 1 (25 MARKS) Pixar Limited reports the following account balances as at 1 January 2021. $ Cash 97 000 40 000 65 000 1 300 Inventory Accounts Receivable Allowance for Uncollectible Accounts Prepaid Rent Accounts Payable Salaries Payable Notes Payable 6 000 75 000 12 000 60 000 Paid in Capital 50 000 Retained Earnings 9 700 Transactions occurred in the month of January 2021 were as follows. 3 January Made sales of $15 000 to Greeny Limited which consisted of credit sales worth $13 500 (2/10,n/30). 3 January Purchased inventories from ALG Corporation worth $20,000 with the credit terms of 3/15, n/60 4 January Paid freight cost on sales worth $250. 5 January Paid freight cost on purchase worth $160. 9 January Accounts Receivable of Meela Trading worth of $700 was written-off. 10 January Inventories purchased from supplier on 3rd January 2021 worth $2,500 were returned 11 January Received return of inventories from Greeny Limited on cash sales worth $600. 12 January Received payment from Greeny Limited on credit sales made on 3rd January 2021. 17 January Made sales on open account to ZAR Trading worth $23 000 (5/15,1/60). 2 17 January 19 January Paid accounts payable of ALG Corporation in full. Received payment from Meela Trading worth $500 on bad debts that were written-off on 9 January 2021. 21 January Received return of inventories from ZAR Trading worth $3 500. 25 January Made cash sales to Sweet September Enterprise for a total of $7 000. 31 January 31 January Received payment from ZAR Trading in full. Granted sales allowance worth $290 to Sweet September Enterprise. REQUIRED: 1) Prepare entries in general journal to record the transactions of the business for the month of January 2021 using Periodic/ Physical Inventory System