Question 3 a) GHC Define Joint Venture and explain two (2) of its advantages. (6 marks) b) Dansoa and Cecilia entered into a Joint Venture to trade in electronic machines They agreed to share Joint Venture profit as follows: Dansoa 3/5 and Cecilia 2/5. On 1/3/2018 Dansoa sent a GHC 10,000 cheque to Cecilia to start the business. They managed to dispose of all the goods they bought by 31/03/2018 by which date their cash transaction had been as below: Dansoa Cecilia GHC Sales 3.500 2,600 Traveling expenses 360 450 Advertising Market tools Wages of casual worker 50 Sundry expenses 70 90 91 70 95 10 30 Purchases 1,650 1.150 Settlement between the co-ventures then took place by cheque Required: 0 Memorandum Joint Venture Account (1) Joint Venture with Dee account in Cee's ledger (ii) Joint Venture with Cee's account in Dee's ledger (12 marks)