Question 4 Eric owns an art shop, Garden Trading in Sarawak. The following information is extracted from the books of Garden Trading. Ignore GST. 1 August 3 5 11 15 17 18 22 25 The business had the following balances in its ledger: Bank overdraft, $6,000; Land and buildings, $250,000; Accounts receivable- Agnes, $3,000; Accounts payable- High Trading, $2,500; Capital-Eric, $244,500. Bought machine in cash $3,200 from Elly Ltd. Sold inventory worth $5,750 to Billy Construction on credit. An invoice with terms 10/10, 4/20, n/60 was issued to Billy Construction. Inventory returned to High Trading, $400. Bought inventory worth $10,000 by cash, discount received $600. Agnes paid half of her debt in cash. Owner withdrew $300 cash and $450 stock for his personal use. Agnes returned some goods costing $600. Received cash from Billy Construction as a full settlement of the outstanding debt. Eric received notification from Vernon, the solicitor that Agnes had become bankrupt and would be unable to pay the amount due. 29 You are required to: (a) record the above transactions in the Columnar Ledger of Garden Trading; and b) prepare Trial Balance as at 31 August 2020. (Total: 14+6= 20 marks)