Question 2:

Ibri Corporation provided the following transactions during the month of January 2019.

January 1- Business invested the cash of OMR 78,000

January 5- It purchased a Machinery at a cost of OMR 28,500 and paid cash.

January 9- Business paid advertisement expenses of OMR 2,500

January 11- Business received sales revenues of OMR 84,900.

January 13- Business sold goods on credit to customer of OMR 8,400.

January 19- The owner took cash form the business for personal use of OMR 7,500

January 22- Business purchased an equipment of OMR 5,600 on account.

January 26- Business paid Salaries of OMR 10,500 by cash.

January 28- Business took a loan from Bank Dhofar of OMR 24,000.

January 31- The business purchased material of OMR 3,400 and paid cash.

Required:

Write the Journal entries for the above transactions and prepare any 5 Ledger accounts.