Question-1: Required, Journalize these transactions in General Journal, [9 Marks Post these entries to the Ledger account, [8.5Marks Prepare the Trial Balance [4 Marks] Prepare Trading account, Profit and loss account and Prepare balance sheet. [8.5 Marks] On 1 January 2020 the owners started their business with $ 500 000 deposited into the company's bank account. On 2 January the company received $400 000 loan from the Sohar bank and deposited into the company bank account. On 3 January the company bought Furniture costs $ 300 000 on credit. On 4 January the company bought Machines for $ 200 000 using cheque. On 5 January the company sold Furniture for $ 160 000 by cheque. On 6 January the company sold Machines for $ 120 000on credit. On 7 January the company paid Salaries $ 20 000 by cheque. WALLAH On 8 January t the company received Rent Revenue $ 36 000 by cheque. On 9th January the company bought Goods for $ 200 000on credit. On 10th the company bought Goods for $ 100 000 by cheque. On 11th the company sold Goods for $ 400 000 by cheque. On 12th the company sold Goods for $ 200 000on credit. On 13th the company paid Phone expenses for $ 30 000 by cheque. On 14th the company received Rent revenue $ 24 000 by cheque. On 15th the company paid Interest expenses $ 20 000 by cheque. On 16th the company received Service revenue $ 20 000 Cash. On 17th the company received Interest revenue $ 30 000 by cheque. On 18th the company paid Rent Expenses $ 20 000 Cash. Note: Assume that the Closing stock was $ 160 000 N.O Date General Journal Explanation 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 T 17 1