Reference no: EM132843656

Dec. 1 Invested P200,000 in cash to start his own business.

Dec. 4 Paid P5,000 for one month's rent.

Dec. 5 Bought office furniture for P15,000 in cash.

Dec. 6 Received delivery of laptop computer, P54,000.

Paid 50% down, balance due in 30 days.

Dec. 8 Performed services for P12,000 in cash.

Dec. 10 Performed services for P10,800 on credit.

Dec. 11 Acquired a fax machine for P7,500; paid P3,000 in cash, balance due in 10 days.

Dec. 16 Received P5,400 from clients on account.

Dec. 19 Paid P10,000 for salaries.

Dec. 21 Settled in full the P4,500 balance for the fax machine.

Dec. 26 Received P7,000 in cash for services performed.

Dec. 27 Performed services for P12,000 on credit.

Dec. 31 Received and paid P1,350 for the monthly telephone bill.

Dec. 31 Received but did not paid P2,400 for the electric and water bills.

Dec. 31 Ted withdrew P7,000 in cash for personal expenses.

Problem 1: Determine the blanaces of t accounts.