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Task 2: Introduction (3 marks) Task 3: CASE STUDY (54 marks Salim started a new business of Electronic Games during the month of January 2022. The business name Salim's Game Center. It provides the service of selling and renting Electronic Games He prepared the following daily transactions occurred during the month of January as follow: January Transaction details 2022 1 Salim invested OMR 40,000 to start the business 3 He paid rent - OMR 1,500 6 He paid interior design company OMR 25,000 for decoration 6 Salim purchased Games for business on credit from The North Supplier worth OMR 5.000 8 Purchased office computer and software for business use by cash worth OMR 1,300 12 Sold games to customers worth OMR 3,000 15 Rented equipment for Samhan Galary on credit worth OMR 350 16 Purchase an insurance policy worth OMR 800 17 Paid The North Supplier OMR 3.000 for the Games purchased on October 20 Paid OMR 3,000 cash for two months' rent in advance 20 Sold games to customers worth OMR 4,000 25 Paid for advertisement OMR 1,200 26 Withdrew amount of OMR 300 for personal use. 29 Received the full amount from Samhan Galary 31 Paid salaries OMR 500 Requirements: Now that you have reviewed the case study above, respond to the following requirements on your own. MEC AMO_TEM_035_02 Page 2 of 13 Principles of Accounting (BUSS B 1004) SPRING 22 - CW 1- AllGP Record each of the above transactions in general joumal by using the accounting names provided in the table below. Please add the name of the business as the title of the general journal a. Cash b. Capital Rent d Decoration e Accounts Payables 1 Purchases Rent in advance h Sales 4 Office computer Salaries Drawings 1 Insurance expenses m. Service provided n Account Advertisement receivable expense Task 4: accounting Cycle (20 marks) From the first day of the month to the end of the accounting year, a transaction goes through many steps until it reached the end user of the financial statements. In details, describe the accounting cycle steps