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The Wakii Sambala Enterprise (WSE) was started on January 1, 2019 by Grand Bapala with an investment of GHS 10,000. It has been operating for

The Wakii Sambala Enterprise (WSE) was started on January 1, 2019 by Grand Bapala with an investment of GHS 10,000. It has been operating for two years during which Grand Bapala made additional investments. WSE prepares marketing plans for clients and has seen a steady growth with the following account balances as of December 31, 2020: CashGHS 2,000 Accounts receivable.8,000 Office supplies.6,000 Office furniture...34,000 Computer equipment. 24,000 Accounts payable13,000 Loan33,000 Capital.28,000 The following transactions took place during the month of January, 2021: Jan 1 Grand Bapala borrowed GHS 12,000 from his family and invested GHS 5,000 in the business. The other GHS 7,000 was intended for Grands living expenses. 1 Paid GHS 2,000 to the landlord of WSE for the months rent on the office space. 4 Signed a lease for the rental of additional office space at a cost of GHS 1,800 per month. The lease is effective September 1st and Bapala was required to pay the first months rent in advance. 6 Developed a marketing plan for a client and received GHS 900 cash. The remaining balance of GHS1,500 is to be paid by the client in three equal instalments on the 15th of the following three months. 10 Paid GHS 50 to a courier service that delivered the marketing plans to the client on January 6. 14 Purchased GHS 2,500 of supplies that will be required for the work of new clients. He paid GHS 1,000 and promised to pay the balance by the end of the month. 15 Received GHS 500 as monthly payment from the client of January 6. 18 Purchased computer equipment for GHS 5,000 by making a down payment of GHS 1,500 with the balance due in 60 days. 20 Completed a marketing plan for ABC Rentals, the owner of his personal apartment building for GHS 1,200. ABC Rental paid GHS 300 and waived next months rent (GHS 900) on the apartment. 23 Completed a marketing plan for a client for GHS 4,000. The client promised to pay by the end of the month. 29 Paid the balance owing for the supplies purchased on January 14. 30 Due to a shortage of funds in the companys account, Grand Bapala wrote a personal cheque to pay for the utilities of the WSE office (GHS 500) and his personal apartments rent (GHS 100). 31 Bapala calculated that he had used GHS 1,200 of supplies for the jobs completed in January. Required a. Journalize the above transactions in the general journal format (no narrative required) and post to the ledger accounts of Wakii Sambala Enterprise. Be sure to include the balances from the prior periods where applicable. b. Prepare the income statement for Wakii Sambala Enterprise for the month ended January 31, 2021. c. Prepare the statement of financial position of Wakii Sambala Enterprise as at January 31, 2021

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