Question 1: (20 marks) Mr. Ali has started business as a trader on 1 October, 2020. The following transactions and events of trading for his first month are as follows: Date Transaction 1 Started the business by introducing $450,000 into the business bank account. 2 Rent is paid by cheque $15,000 for the month. 8 Mr. Ali paid $30,000 in cash for a van. 10 Mr. Ali purchased goods costing $18,000 on credit from Adam (invoice no Adam123). 12 Mr. Ali sold goods for $60,000 in cash. 15 Mr. Ali sold goods for $41,250 on credit to Jack (invoice no Jack001) 24Mr. Ali paid the amount, taking advantage of a 10% settlement discount with respect to invoice no. Adam123 25Jack paid to Mr. Ali, taking advantage of a 8% settlement discount with respect to invoice no. jack001. Required: 1- Enter the above transactions into an appropriate cash book (receipts and payments). 2- Post the transactions directly to the appropriate nominal ledger accounts. 3- Prepare the trial balance as at October 31, 2020. [Marks: (5+ 10 + 5) = 20)