Question One Selected transactions for Ramzy, an interior decorator, in his first month of business, are as follows. Decen. mants Suy July 2 invested $ 20,000 cash and issued ordinary shares to the shareholders. 3 Purchased Supplies for $ 8,000 cash for use in business. 9 purchased machine on account for $1,000. 11 Performed service for a customer and billed the customers $ 3,600. We expect to collect within one Month. July 16 Paid $ 400 for the machine purchased Jan. 9 on account. J 20 Received $ 1,400 cash from customers billed on January 11. 25 Paid employee salary $ 1,200, Rent S 400 and Utilities $ 500. Joy Required: 1. Journalize the transactions. 2. Post to these T-accounts; Cash and Accounts payable. - To the ledger 3. Trail Balance 4. cycle - Prepare financial statement