Question

Direction:  

Journalize and post to the Ledger using the T-Account the following transactions: 

On May 1 Esterlina Gevera is a social entrepreneur. She is into a lot of interesting causes. Upon the advice of her colleague,Glory Detoya, Gevera decided to organized her wedding consultancy. She invested P250,000 into this entity.  

May 1  Rented office space and paid two months’ rent in advance, P8, 000.  

May 2  Esterlina Gevera issued a promissory note for a P210, 000 loan from Metrobank. This availment will be used for the acquisition of a service vehicle.  

May 4  Acquired service vehicle for P420, 000. 

May 4  Paid Prudential Guarantee and Assurance, Inc. P14,400 for one year comprehensive insurance coverage on the service vehicle. 

May 5  Acquired office equipment from Fair  and Square Emporium for P60,000;paying P15,000 in cash and the balance next month. 

May 8  Purchased supplies on credit for 18,000 from San Jose Merchandising. 

May 9  Paid San Jose Merchandising P10,000 of the amount owed. 

May 10   Coordinated and finalized simple bridal arrangements for the three couples and collected fees of P8,000 pre couple.  

May 13 Paid salaries, P6,600. 

May 25  Gevera withdraw P14,000 for personal use. 

May 27   Paid salaries, P7,200. 

May 30   Received the ICC-BayanTel  telephone bill, P1,400.  

May 31  Settled the electricity bill of P3,000 for the month. 

PLEASE HELP ME..