The following are the transactions during 2022: 02.01.2022 Purchases machinery, on credit (due in 24 months) SR 80,000.00 20.02.2022 Purchases merchandise, in cash SR 50,000.00 15.04.2022 Sales merchandise, in cash SR 218,000.00 20.04.2022 Returns merchandise to the supplier SR 3,000.00 20.12.2022 Pays insurance for period 01.01.2022-30.06.2022 SR 36,000.00 31.12.2022 Writes-off bad debts as customer went bankrupt SR 17,000.00 31.12.2022 Utility bills for December 2022, to be paid on 07.01.2023 SR 7,500.00 31.12.2022 Depreciation: 10%, straight line, no resale value (monthly basis) TBD 31.12.2022 Closes beginning inventory SR 43,000.00 31.12.2022 Records the ending inventory SR 12,000.00 31.12.2022 Revenues & expenses balanced off TBD Assignments