Question: Required: Using the template on the following page, prepare the general journal entries to record the above transactions that occurred during February (ignore GST, and

Required: Using the template on the followingRequired: Using the template on the following
Required: Using the template on the following page, prepare the general journal entries to record the above transactions that occurred during February (ignore GST, and narrations are NOT required). Date Particulars Debit CreditQuestion One (16 marks) The following transactions relates to a new business called Keith's Vehicle Hire. 2022 February Keith takes out a $500,000 cash loan. 2 Keith acquires three vehicles for $400,000 from Toyan Ltd and pays a $50,000 deposit. The balance is to be paid within 90 days. 3 Keith pays $10,000 for advertising that featured in the newspaper on 3 February. 16 Keith rents the three vehicles to Blond Corporation. Fees of $5,000 to be paid within 30 days. 23 Keith pays half of the money owing to Toyan Ltd. 25 Keith pays first month's wages of $3,000. 27 Keith withdraws $2,400 for his private expenses. 28 Keith receives a cheque for $2,500 from Blond Corporation in part payment of the amount owing

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