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In: AccountingJournalize the following transactions in the books ofXYZ & Company and post them into the...Journalize the following transactions in the books ofXYZ & Company and post them into the ledger accounts andprepare the Trial Balance for the year ending January 31,2005.Jan 1Started business with a capital$ 150,0005Bought Furniture on account 4,1007Bought goods for cash8759Paid into the Bank2,50010Sold merchandise for cash270.5011Purchased supplies on account24612Wages paid72.5015Purchased equipment paying 20% down payment and the balance anote payable15,50017Paid cash for the supplies purchased on Jan 11th20017Sold goods on account4,20018Received cash for the goods sold on Jan 177h4,20025Paid for Salaries2,50031Paid rent2,400