Question No 1: (20x1 = 20 Marks) Sarah started a new business, Sarah Electric, and completed these transactions during the month of December, 2019. Pass journal entries to record the following transactions 1 December Sarah transferred OMR 65,000 cash from a personal savings account to a checking account in the name of Sarah Electric. 2 December The Company rented office space and paid OMR 1,000 cash for the December rent. 3 December The Company purchased OMR 13,000 of electrical equipment by paying OMR 4,800 cash and agreeing to pay the OMR 8,200 balance in 30 days. 4 December The Company purchased office supplies by paying OMR 800 cash. 5 December The Company completed electrical work and immediately collected OMR 1,200 cash for these services. 6 December The Company purchased OMR 2,530 office equipment on credit. 7 December The Company completed electrical work on credit in the amount of OMR 5,000 8 December The Company purchased OMR 350 office supplies on credit. 9 December The Company paid OMR 2,530 cash for the office equipment purchased on December 6. 10 December The Company billed a client OMR 900 for electrical work completed; due in 30 days. 11 December The Company received OMR 5,000 cash for the work completed on December 7. 12 December The Company paid the assistant's salary for two weeks OMR 400 cash. 13 December The Company received utility bill for the month, OMR 540. Immediately paid cash of OMR 200 and the balance to be paid next month. 14 December Sarah withdrew OMR 950 cash from the Company for personal use. 15 December The Company completed work for additional customers on credit for the amount of OMR 16,000. 16 December The Company paid OMR 1,200 for 12-month accident insurance. 17 December The Company installed a new electrical system for a customer and immediately collected OMR 2,400. 18 December The Company received OMR 1,000 as advance payment from the customer for work to be completed next week. 19 December The Company paid OMR 8,200 on the electrical equipment purchased on December 3. 20 December The Company took a bank loan OMR 5,000 to be used in business operations