Scenario: Your group has been approached for assistance by Paul Zoukis the owner of Zoukis Forklift Services Ltd because the company has no accounting personnel to prepare its accounting records and financial statements. The company's financial year end is December 31 each year and you have been provided the following information and transactions for 2023: Jan 1. Jan 2. Feb 1. Mar 30. April 4. May 5. June 6. June 10. Aug 12. Sept 12. Sept 30. Oct 17. Oct 30. Oct 30. Nov 24. Nov 25. Nov 27. Dec 29. Dec 30. Dec 30. Dec 30. Balances from 2022 - Cash $500,000; Accounts Receivable $150,000; Supplies $105,000; Machinery and Equipment $700,000; Other Creditors $300,000; and Capital $1,155,000. The following assets were received from Paul Zoukis in exchange for capital in the company: cash - $300,000, accounts receivable - $150,000, supplies - $105,000, and Machinery and Equipment- $350,000. Paid fourteen (14) months' rent on a lease rental contract at $35,000 per month. Paid the premiums on the property and peril insurance policies for fifteen (15) months amounting to $150,000. Received cash from clients as an advance payment for services to be provided in the coming months, $440,000. Purchased forklift on account from Fatman Machinery and Equipment for $400,000. Received cash from clients on account, $200,000. Paid cash for security services amounting to $54,000. Paid Fatman Machinery and Equipment $150,000 of the debt incurred on May 5. Recorded services provided on account for the period July 1 - Sept 12, $560,000. Paid part-time workers salary, $226,000. Recorded cash from cash clients for fees earned during the first half of year, $501,250. Paid cash for supplies, $95,000. Recorded services provided on account for the period June to July, $208,000. Recorded cash from cash clients for fees earned for the period September 13- Nov 24, $485,000. Received cash from clients on account, $350,000. Paid part-time workers for salary $226,000. Paid telephone bill for the year 2023 $290,000. Paid electricity bill for the year 2023 $285,000. Recorded cash from cash clients for fees earned for the period September 14- Dec 30, $350,000. Recorded services provided on account for October to December 2023, $280,000. Requirement: 1. Prepare the opening journal entries and journalize each transaction in the general journal referring to the following chart of accounts in selecting the accounts to be debited and credited and include a narration for each transaction: