You are requested to prepare ANY 5 JOURNAL ENTRIES of the transactions following the double entry booking system. Mr. Afzal owns a shop-Dhaka Hardware'. On January 1, 2021 the shop was having cash BDT 30,000 and inventory worth BDT 100,000 and all through the month the shop conducted following transactions. Amount 150,000 10,000 5,000 50,000 600,000 Date Transactions 1-Jan-21 Inventory purchase from Abed Traders in cash 2-Jan-21 Transportation fee for the good purchased paid in cash 3-Jan-21 Some inventory damaged during the time of transportation. The goods were insurance covered and a claim was raised to the insurance company. 4-Jan-21 Product sell to Mr. Kabir in cash 5-Jan-21 Bank approved loan application under the condition of repayment within 24 monthly installments 6-Jan-21 Yearly employment bonus for 2020 paid to the shop keepers 7-Jan-21 Shop decoration fee paid 8-Jan-21 Stationary purchase for the shop 9-Jan-21 Mr. Afzal withdraw for personal expenditure 10-Jan-21 Water filter purchase for the shop keepers in cash 11-Jan-21 Purchase of a laptop for office use by issuing a cheque payable after 30 days 12-Jan-21 Installed shutter for the shop in credit 13-Jan-21 Showcase purchase for inventory storage in cash 14-Jan-21 Acknowledged the bill for internet installment from the service provider 31-Jan-21 Paid monthly internet bill along with the acknowledged installment fee on 14-Jan-21 100,000 35,000 2,000 1,000 5,000 20,000 16,000 20,000 1,500 3,000 ANSWER ANY 2 QUESTIONS (2 X 2.5 = 5 MARKS) 1. Why does Accounting system use double entry? 2. What is a balance sheet? 3. What does 'stockholders' equity' stand for in the basic accounting equation? 4. Define primary market and secondary market