You are required to prepare a written report for the following tasks: Transactions for the month of November of a small grocery store, RAVABREAD Enterprise are given as the following. 2020 NOV 1 Initial investment to start the business with RM105,000 cash 2 Put RM90,000 of the cash into a bank account 3 Bought goods for cash RM5,500 4 Bought goods on credit from: KABA RM800; SABA RM930; JABA RM160; BABA RM510 5 Bought stationery on credit from BREAD Bhd RM89 6 Sold goods on credit to: CAMA RM170; BAMA RM240; GAMA RM326; TAMA RM204. 8 Rent paid by cheque RM220 10 Bought fixtures & fittings by credit from CHAIR Bhd RM610. 11 Paid salaries in cash RM790. 14 Returned goods to SABA RM30; JABA RM42. 15 Bought a Mini Van by cheque RM6,500. 16 Received loan from Maybank Bhd by cheque RM2,000. 18 Purchases return: CAMA RM5; GAMA RM20. 21 Cash sales RM145 24 Sold goods on credit to BAMA RM130, TAMA RM410; PAMA RM158. 26 Rava paid the following by cheque: SABA RM900; JABA RM118. 29 Received cheques from PAMA RM158; BAMA RM370. 30 Received a further loan from Maybank Bhd by cash RM500. 30 Received RM614 cash from TAMA Required: (a) Briefly explain about Accounting Cycle according to the standards. (10 marks) (b) Explain about the Accounting Principles and its importance in preparing accounting information. (10 marks)