Reference no: EM132739411
Problem 1: Give the following journal entry and trial balance
July 1 Acquired office supplies on account, P3,600
July 3 Paid rent for the month, P2,500
July 5 Paid telephone bill for the month, P450
July 9 Received cash for services performed on this date, P5,600
July 10 Paid for advertising in the local newspaper, P750
July 14 Withdrew cash from the business,P2,500
July 17 Billed customers for services rendered, P5,250
July 19 Made a payment to the creditor for the supplies acquired in the July 1 transaction, P1,600
July 20 Paid salary to employee, P850
July 28 Received payment from customers P2,250 July 30 Paid electric bill for the month, P600