Question 4:( B1, C3, D3) (8 Points) Below are separet transactions for KFH Company for the month of August prepare the sutible journal entry under each transaction. 1. The owner invests S30,000 in cash to start the business. 2. The company sold $15,000 of merchandise to Ammar, terms 1/10, 1/30. 3. The company paid fright cost of $2,000. The Company established a petty cash fund of $150. 4. 5. The owner withdrew $2,000 cash from the business for personal use. 6. The company pruchaseed Building costing $90,000 paid $50,000 cash and S40,000 on account. 7. The company take loan of $50,000 from the bank 8. The company agrees to hire a secretary starting from the next month with monthly paid salary of $800. Answer of Question 4 : Date Explanation Debit Credit = Question 5 :( B1, C1, D3) (8 Points) Mango Company uses a petty cash system. The fund was established on November 1 with a balance of $600. During November, the following petty cash receipts were found in the petty cash box: 1. Printing fees $90 2. Supplies expense $110 3. Fixing fees $80 4. Transportation expense $180 5. Refreshment expenses $120 The fund was replenished on November 25 when the fund contained $10 cash. On November 30, the amount in the fund was increased to $700. Instructions: Journalize the entries for Mango Company in November that pertains to the operations of the petty cash fund. Answer of Question 5: Date Explanation Debit Credit Question 3: (B1, C1, D3) (8 Points) At the end of 2016 Fontana Company has the following account balances: Purchases $710,000; Purchase Returns and Allowances $210,000; Purchase Discounts $50,000; and Freight-In $10,000; beginning inventory of $80,000; ending inventory $40,000; and net sales of $900,000 Instructions: Prepare the Statement of cost of goods sold. Answer of Question 3