QUESTION ONE Shayne Mukonka started business on 1 January 2021 as a distributer of stoves. Shayne has appointed you to act as her accountant. In a bid to open the books of accounts, you have managed to obtain the following transactions from Shayne for her first month of trading: January 2. She paid K6,000 into a separate bank account for the business. 3. The business bought stoves for K1,600 cash. 4. The business sold some of the stoves for K1,200 cash. 5. The business bought a van for K2,500 cash 6. The business bought more stoves for K400, on credit from Chris. 9. The business bought more stoves for K800 from Chris, on credit 10. The business bought stoves for K600 on credit from William 11. The business sold some of the stoves for K2,100 to Ann on credit. 12. The business sold some stoves on credit for K700 to Andrew 13. Rent for the month was paid of K300 17. Paid three quarters of the amount due to Chris 18. Received K1,000 from Ann in respect of the amount owing by her 19. Mary paid another K4,000 of her own money into the business bank account 20. More stoves were purchased on credit from William for K1,000, and from Bertha for K1,600 21. Stoves were sold to George for K2,100 on credit 27. Following the Covid 19 closures, George's business collapsed rendering the whole of his debt unrecoverable; as well as 10% and 20% of Ann's and Andrew's remaining balances, respectively 28. Stoves were sold for k1,350 on credit to Tony 29. The business paid wages of K400 to the shop assistant 30. Mary withdrew K700 cash from the business bank account, for herself. Required: i. Open the appropriate books of original entry and record the above transactions. [10 Marks] ii. Open the appropriate ledger accounts and post the accompanying transactions and close off at the end of the accounting period. [10 Marks] iii. Close off the accounts and prepare the Trial Balance as at 31 January. [10 Marks] iv. Prepare the Income statement and the statement of Financial Position for the month of January [10 Marks]