Question 4 (20 marks) ABC Company uses the perpetual inventory system and had the following transactions during August 2019: Date Transaction Amount June. 5 Purchased inventory on account $ 120.000 June. 9 Paid for transportation of goods purchased 12,500 June. 10 Retured defective merchandise to the seller 17,500 June 15 Paid for goods purchased on June 5 ? Credit terms of invoice are 2/15. n 45. Required: Prepare the general joumal entries to record these transactions. Explanations are not required. [43 maksi B. The following is the adjusted trial balance as of December 31, 2019 of Rashed Photography: Rashed Photography Adjusted Trial Balance December 31, 2019 Account Debit Credit Cash $3,4001 Accounts Receivable 17,000 Supplies 200 Equipment 15,000 Accumulated Depreciation Equipment $4.000 Accounts Payable 2.400 Salaries Payable 1,600 Uneamed Revenue 1.2001 Common Stock 6,800 Dividends 4.6001 Service Revenue 80,000 Salaries Expense 48,000 Supplies Expense 4,6001 Depreciation Expense-Equipment 3.200 Total S96.000 S96.000 Requirements: A Joumalize the closing entries for Rashed Photography (5 Marks). B. Prepare post-closing trial balance at December 31, 2019 (Marks). C. Present the Assets section in a Classified Balance Sheet as on December 31, 2019 (5.5 Marks)