Question 1 Anna Enterprise is a business supplying frozen food to supermarkets. Given below are the business transactions of Anna Enterprise for the month of November 2020. Date 2 4 5 NOVO 6 7 9 12 Transactions Anna brought in RM120,000 cash and deposited the money into the business bank accounts. Purchased goods from Elsa Supplies worth RM7,800 on credit. Purchased furniture worth RM5,760 on credit from Olaf Furniture Sdn Bhd. Sold goods to Kristoff RM8,500 on credit. Issued cheque to Elsa Supplies amounted to RM3,000. Kristoff returned defective goods amounting to RM500. Received part payment by cheque worth RM4,000 from Kristoff for the goods sold. Kristoff paid the outstanding balances by cash. Cash sales worth of RM8,800. Returned some of goods to Elsa Supplies worth RM350 due to incorrect specification. 13 16 18 Required: a) Show the effects (increase / decrease) upon assets, liabilities, expenses, revenue and owner's equity for the above transactions. (10 marks) (10 b) State the journal entries (debit and credit). marks) (Total: 20 Marks)