TOPIC 3: ACCOUNTING CYCLE INSTRUCTIONS: You are the owner of a business established since 1" January 2020. You need to come out with a business name and list of products the business is selling. Prepare the requirements as below; SECTION A 1. 11. Prepare a product list your company is selling. The list must have four (4) different items with full product descriptions. The list must also include the purchasing and selling price per unit. Prepare an opening balances for assets (7 items), liabilities (2 items) and capital for the current accounting period ( 1st January 2022- 31st December 2022). For Accounts Receivable and Accounts Payable, the balances should also include the details of balances for subsidiary ledger ( 2 Items for each). SECTION B 1. Create a business transaction for the month of January 2022. For credit sales and credit purchases, the transactions must also include credit and shipping terms. [min 18 transactions: General Journal (4), Purchases Journal (2), Sales Journal (2), Cash Receipts Journal (5) and Cash Payments Journal (5)] and determine the source document involved for each transaction using the following table. Example: Date Business Transactions. Source Journal document 4 Page SECTION C 1. Journalize the transactions to the appropriate journals. il. Post all the business transactions from journals to the subsidiary ledgers using columnar form ledgers ill. Post all the business transactions from journals to the general ledgers using columnar form ledgers. iv. Transfer all the ending balances of general ledger to the Trial Balance.