Mr. Santos opened a barber shop called “Gupitan Shop” on February 1, 20X3, The following were the transactions during the first week of operations.

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Mr. Santos opened a barber shop called “Gupitan Shop” on February 1, 20X3, The following were the transactions during the first week of operations.

February	Transactions
1	Provided P300, 000 cash as initial investment to the business.
2	Acquired furniture and fixture for P200, 000 cash.
4	Purchased supplies for P30.000 cash.
5	Rendered services worth P20,000 on cash basis.
7	Paid P10,000 salaries of employees.

Requirement:

A. Provide the journal entries.

B. Post the entries to the ledger (use T-accounts).

C. Prepare the unadjusted trial balance.

Fundamentals-Of-Accounting

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