raLTUI acala UNIVERSITY OF BURAIMI College of Business Sara Ltd. In January 2018, Sara started her new Company. They had a lot of activities happened in January. In 1t Jan they Started Business with 250,000 OR. And for the business they needed building which they purchased for 15,000 OR on 2nd Jan. In 3 Jan Furniture has been a purchased for 5,000 OR. They got shortage of money which mead them to go for a Bank loan of 30,000 OR on 5th Jan. for the requirement of the business they purchased goods for 25,000 OR on 7th Jan. Also on 7th Jan they purchased goods from Ali by 50,000 OR on credit. In 10 Jan they paid to Ali 5,000 OR on account. There was Cash Sales of 60,000 OR on 11th Jan. the company Purchased goods from Ahmed for 21.000 on credit on 15th Jan. In 16th Jan the to company paid to Ahmed 15,000 OR on account. 18th Jan Company mead a sale of goods Rashid of 45,000 OR on credit. Company paid salary of 1,000 OR and rent of 600 OR on 20th credit on 22nd Jan. In the end on Jan. Company also sold goods to Mohammad for 10,000 OR of the month by 27th Jan interest has been Paid of 100 OR. In 28th company received from Rashid 30,000 OR. Sara Ltd. asked you as an accountant to: Record their above transactions of the company in Journal post it to Ledger (i) Accounts. Also to prepare Trial Balance and Income Statement, Statement of Owners Equity (ii) and Balance Sheet. (iii) Explain briefly what financial statements are