Question The following transactions related to Muthu Barber Shop. No. Date Transaction 1 1 Dec 2020 Mr. Muthu started his business, Muthu Barber Shop with cash RM3,000 and equipment worth RM4,000. 22 Dec 2020 He bought additional equipment with cash of RM1,000 from Ah Beng. 3 5 Dec 2020 Mr. Muthu returned some equipment worth RM200. These equipment were bought on 2 Dec. 2020. He received cash refund for returning the equipment on the same day. 4 8 Dec 2020 Mr. Muthu bought RM300 worth of goods from Pak Tam on credit. The goods consist of scissors and hair trimmers for his barber shop. 5 8 Dec 2020 Mr. Muthu paid RM50 cash to Lala Move for the transportation of the goods purchased from Pak Tam. 6 10 Dec 2020 Mr. Muthu returned goods worth RM100 to Pak Tam because the items were damaged during transportation 7 12 Dec 2020 Mr. Muthu checked his record and noted he made RM500 cash sales from his 15 day of business until 12 Dec. 2020. He has yet to record all these transactions which amounting to RM500. 8 13 Dec 2020 Mr. Muthu paid the balance of the amount owing to Pak Tam. 9 14 Dec 2020 Mr. Muthu purchased a used motorcycle worth RM2,500 cash. He plans to ride this motorcycle to his barbershop. 10 18 Dec 2020 A full year depreciation is to be provided for the motorcycle at 25% depreciation per year. 11 20 Dec 2020 Tom, his regular customer, requested Mr. Muthu to come to his house for a haircut. Mr. Muthu charged extra RM5 as transportation cost on top of the price for the haircut, RM20. 1223 Dec 2020 Mr. Muthu takes out RM100 cash for his personal use. 13 25 Dec 2020 Mr Muthu decided to take RM150 worth of equipment for his personal use. 14 28 Dec 2020 Steven, another regular customer, did not pay cash for his haircut. Total amount due as at 15 Dec. was RM100 for his 2 previous visits together with his kids. He was declared bankrupt and unable to pay the debt he owed to Mr. Muthu. 15 31 Dec 2020 Mr. Muthu transferred his cash in hand RM300 to his Maybank's business bank account. 16 31 Dec 2020 Mr. Muthu paid the electricity bill RM120 using Jompay via Maybank2u. Required: Enter all the transactions in the relevant T-accounts. Any balance at the end of the month to be brought forward to the next accounting month or transferred to the Income Statement. Assume the first year end of the business is 31 December 2020. 16 marks 4 marks for presentation. (Total: 20 Marks) 13