Wanna Be Rich Trading, owned by Richie Richer, sells casual wear for both men and women. He ended trading on December 31, 2021 with the following assets and liabilities:

Bank Loan (repayable in 2025)	$200,000
Office Furniture	$500,000
Bank	$300,000
Shop Equipment	$100,000

During the month of January 2022, the following transactions occurred:

Jan	1	Rented premises for $50,000 per month. Wanna Be Rich Trading paid $150,000 for the first quarter to March 31, 2022 by cheque.
Jan	2	Purchased inventory work $80,000 on credit from Already Rich Ltd.
Jan	2	Sold a quarter of the inventory for $40,000 cash, funds lodged immediately
Jan	7	Paid cheque to Already Rich Ltd for half the goods purchased on Jan. 2.
Jan	8	Paid insurance for Jan $7,500 by cheque
Jan	14	Sold the remaining inventory for credit as follows: Rochelle Dealer $30 000 Samantha McGregor $25,000 Percival Kingdom $25,000 Janet Justice $80,000
Jan 16		Purchased goods on credit from All Traders Co. $160,000
Jan 17		Sold good for cash $75,000
Jan 18		Purchased computer equipment for $30,0000 by cash
Jan 21		Sold half the inventory for $100,000 cash, funds lodged immediately
Jan 25		Rich Richer withdraws $10,000 from the bank for use in the business.
Jan 31		Purchased office supplies costing $3,500, cash.
Jan 31		Paid shop assistant wages $25,000 by cheque
Jan 31		Paid electricity bill for Richie Richers mother in cash $15,000

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