Question 3 Lilian Trading commenced business as a retailer of catering products on 1 October 2020. The following are her transactions for the first month's operations. Ja 1 Oct Lilian commenced business with the following assets and liabilities: Receivables, $5,000; cash at bank, S150,000; office equipment, S60,000; hire purchase loan on motor vehicles, $80,000; loan from North Bank, $30,000. 14 Lilian paid $15,000 off the business mortgage loan via EFT from her personal bank account. 16 Cash sales, $2.420 inc GST (POS). 17 Cash purchases from Rossa Supplier, $4,070 inc GST (cheque 001). 18 Lilian withdrew stock costing $550 inc GST (memo 1). 24 Paid wages, $800 (EFT). 26 Receivable, F Farrer paid his account of $600, deducting discount of $33 (inc GST) for prompt payment (receipt 401). 29 Paid payable, Power Electrical Supplier $3,900. Discount received was $110 inc GST (cheque 002). Lilian introduced her own motor vehicle valued at $6,000 into the business (memo 2). 30 Received commission from Top Electrics, $220 inc GST (EFT). Cash refund, $1,210 inc GST paid to S Thomas for goods previously sold for cash (cheque 004). You are required to: Record the above transactions into the following journals: (a) General Journal (GJ) (b) Cash Receipts Journal (CRJ) c) Cash Payments Journal (CPJ) (Total: 15 marks)