Rising Sun Retail Corp. (RSRC) conducted the following transactions during the month of August. RSRC uses the periodic inventory method. August 10: 13: 15: 19: 20: Purchased merchandise on account, Rs. 90,000, terms 2/10, n/30. Returned part of the purchase of August 10, Rs. 12,000, & received credit on account. Purchased merchandise on account, Rs. 120,000, terms 1/10, n/60. Paid invoice of August 10 purchase. Returned part of the purchase of August 15, Rs. 20,000, & received credit on account. Purchased merchandise on account, Rs. 150,000, terms 2/10 n/30. Paid invoice of August 15 purchase. 25: 27: Extra information for the month of August: Sales Revenue: Sales Discount: Sales Returns: Inventory, August 1: Inventory, August 31: Operating Expenses: Cash, August 1: Accounts Payable, August 1: Rs. 1,000,000 Rs. 40,000 Rs. 50,000 Rs. 100,000 Rs. 50,000 Rs. 400,000 Rs. 210,000 Rs. 20,000 Required: a). Prepare general journal entries to record the transactions. b). Prepare a multi-step income statement for August. c). Show the balances of Balance Sheet accounts as at August 31st