Question No 1: (20x1 = 20 Marks) Mr. Ahmed has decided to go into a cinema business and to operate as Ahmed Cinema. The following transactions were completed during the first month of operations, May, 2020. Pass journal entries to record the following transactions 1 May 2 May 3 May 4 May 5 May 6 May 7 May 8 May 9 May 10 May Ahmed invested in a neighbourhood movie house building, OMR 100,000. Rent expense for the movies shown for the month, OMR 2,000 on account. Ticket sales for the month, OMR 6,000 cash. Purchased a new popcorn machine, OMR 1,100 on account. One customer rented the movie theatre for one night. Send a bill for OMR 800. Paid OMR 200 on the amount owed for the new popcorn machine. Received OMR 800 from the customer on May 5. Bought a truck costing OMR 20,000, making a down payment of OMR 2,000. Paid office rent for three months in advance, OMR 3,000. Received OMR 2,400 as advance payment from a customer who will use the movie theatre for 3 nights. Paid utilities, OMR 500. Received OMR 5,000 cash from customers for ticket sales. Ahmed invested cash into the business OMR 50,000. Purchased computers by cash, OMR 2,000 Wages paid for the month, OMR 1,000. Ahmed, the owner, withdrew OMR 1,700. Paid OMR 700 on amount owed for truck last May 8. Received bill for miscellaneous expense, OMR 255, immediately paid OMR 100 and deferred the remaining until next month. Paid maintenance fee, OMR 700. Take out bank loan OMR 2,000. 11 May 12 May 13 May 14 May 15 May 16 May 17 May 18 May 19 May 20 May