Question No 1: (20x1 = 20 Marks) Carpet Company began operations in May and completed the following transactions during that first month of operations. Pass journal entries to record the following transactions 1 May Carol, the owner, invested OMR 90,000 cash in the Company. 2 May The Company purchased OMR 25,000 in office equipment. It paid OMR 10,000 in cash and signed a note payable for the balance. 3 May The Company rented office space and paid OMR 3,000 for the 12 months' rent. 4 May The Company installed new carpet for a customer and immediately collected OMR 5,000. 5 May The Company paid a supplier OMR 2,000 for materials used on the May 4 job. 6 May The Company purchased a copy machine of OMR 2,500 for office use on credit. 7 May Purchased office equipment for OMR 30,000, paying OMR 8,000 cash and agreeing to pay the balance in one year. 8 May Purchased office supplies for OMR 750 cash. 9 May Completed work for a client and immediately collected OMR 2,700 cash for services. 10 May Received telephone bill, OMR 300. Immediately paid OMR 100 and the payment for the remaining was deferred until next month. 11 May Received OMR 3,600 from a client for the work completed. 12 May Paid the office secretary's salary for two weeks, OMR 300 cash. 13 May Carol withdrew OMR 2,000 for personal use. 14 May The Company have rented a machine and paid OMR 200 cash for the rent. 15 May The Company took a bank loan to use for the business operations, OMR 5,000. 16 May The Company paid OMR 750 cash for this month's cleaning services. 17 May The Company provided carpet services for a client and immediately collected OMR 5,400 cash. 18 May The Company provided carpet services of OMR 2,500 for a client on credit 19 May The Company received OMR 2,000 as advance payment from a customer for services to be provided next week. 20May The Company received OMR 2,500 cash payment for the services provided on May 18. the