Question 5: Transaction analysis and recording (10 Marks) Transactions for Melbourne Consultants Ltd for the month of Jan 2020 are presented below: Jan 2. Jan 2. Jan 3. Jan 6. Jan 14. Jan 15. Jan 20. Jan 23. Jan 28. Jan 31. Shareholders invested $180,000 cash in exchange for shares in the business. Paid office rent of $4,800 for the month Purchased vehicle costing $22,000 for cash. Purchased equipment costing $10,000. $7,000 was paid in cash and the remainder on credit. Purchased office supplies on account for $325. Paid $2,500 for a one-year insurance policy. Received $5,000 cash for consulting services performed. Received $3,000 advance from a client for services that will perform next month. Paid receptionist $4,200 salary for the month. Paid dividends to shareholders of $700 which has been declared in October 2019. Required Journalise each transaction. Narrations are required QUESTION 5