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Musa Alabi started business with a capital of N50,000 on 1 January 2020. The following information was provided as his transactions for the month of

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Musa Alabi started business with a capital of N50,000 on 1 January 2020. The following information was provided as his transactions for the month of January, 2020: 5th Jan: He purchased goods on credit from Matama N25,000 gth Jan: He paid cash to Matama N42,000 14h Jan: He sold goods to Samuel N200,000 16h Jan: He received cash from Samuel N100,000 201h Jan: He further purchased goods from Matama N420,000 24th Jan: He paid cash to Matama N50,000 24th Jan: Paid Rent by Cash N50,000 27th Jan: Sold goods to Imabong N40,000 30h Jan: He received cash from Imabong N25,000 Required: a. Assuming that journal is the only book of original entry, write up the journal proper for the month ended 31" January, 2020. (15 marks) b. List out five uses of journal proper in the modern day accounting

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