Question 1 Date Transaction 1.1.2020 15. 2. 20 29.3.20 Mr. Salim Ahmed started business as Ahmed Enterprise with OMR 7000 cash and Furniture valued at RO. 3000 as capital Opened Bank Account and deposited 5000 OMR Cash Purchased goods from Sharuk Traders for OMR 4500, paid 10% cash and remaining on credit Sold goods for 14000 OMR. 50% received in cash remaining on account to M/s. Muscat Enterprises Purchased building from Ansari Traders 2500 OMR, paid by cheques full amount. 21.6.20 4.9.2017 9.12.20 Settled accounts of Sharuk Traders. Paid Salary expense 500 OMR for the month of December 20 29.12.20 31.12.20 Received rent revenue of 1200 OMR in cash. Required: 1. Record Journal Entries 2. Post them into the ledger accounts 3. Prepare the Trial Balance as on 31.12.2020 Q2 The Information below relates to sales transactions for SALALAH Enterprises. Determine the net sales and cost of goods sold and gross profit. Sales Discount RO 1250 Gross Sales 290000 Sales Returns and Allowances 975 Freight In 2300 Purchase Discount 175 Purchases 50000 Purchase Returns and Allowances 800 Opening Inventory 1500 Closing Inventory 2200