Question No 1: (20x1 = 20 Marks) Mr. Mazin has decided to go into the insect extermination business and to operate as Mazin's Extermination Service. The following transactions were completed during the first month of operations, May, 2020. Prepare journal entries. 1 May Mazin invested OMR 35,000 cash in the business. 2 May Purchased extermination equipment for OMR 17,000 in cash. 3 May Bought OMR 300 office supplies on account. Down payment is OMR 50, remaining amount is due in 30 days. 4 May Purchased chemicals (expense) for OMR 1,100 from Low Glow Chem Co. on account 5 May An amount of OMR 3,000 was paid as advance rent for three months. 6 May Received OMR 1,600 revenue for extermination service. 7 May Received OMR 1,000 as an advance payment from customers for extermination services. 8 May Earned OMR 980 revenue for extermination service, on account. 9 May Sold services worth OMR 2,500 to customers on account. 10 May Paid for truck repairs, OMR 145. 11 May Paid OMR 600 to Low Glow Chem Co., for transaction on May 4. 12 May Paid OMR 131 for gas and oil for truck. 13 May Received OMR 1,400 cash revenue for extermination service. 14 May Received OMR 500 for services previously earned on account in transaction on May 8. 15 May Paid assistant's salary, OMR 200. 16 May Mazin invested van amounting OMR 12,000 in the business. 17 May Received and paid utility bill of OMR 125. 18 May Takes out a bank loan OMR 2,000 to renovate the new store. 19 May Received cash payment of OMR 800 from credit customers in May 9 transaction. 20 May Received telephone bill, OMR 120. Paid OMR 50 immediately and the remaining is deferred until next month