Reference no: EM132995726

Jay Landers opened a plumbing service, Landers Plumbing. Operations began on April 1, 2020, and the following transactions were completed during the month:

1 Withdrew P67,000 from a personal savings account and used it to open a new account in the name of Landers Plumbing.
2 Acquired service vehicle costing P81,000. A payment of P17,500 in cash was made and a note payable for the P63,500 remainder.
3 Paid rent for the month P7,150
6 Acquired plumbing supplies on account P15,700
7 Paid for three months of advertising and recorded Prepaid Advertising in the amount of P6,000
8 Cash in the amount of P18,350 was received for plumbing services rendered.
9 Acquired additional plumbing supplies for cash P8,050
11 Paid salaries, P11,600
15 Rendered plumbing services and billed the customer, P42,200
16 Paid P5,700 of the amount owed from the transaction on April 6
19 Paid miscellaneous expenses, P4,300
20 Collected P21,000 from the customer on the April 15 transaction.
21 Withdrew P14,500 from the business
22 Paid salaries, P14,100
24 Paid the first installment of the note payable , P3,850
25 Paid telephone expense, P1,250
27 Billed the Clement Resort for plumbing services rendered, P14,150

?The company uses the following account titles, Cash; Accounts Receivable; Plumbing Supplies; Prepaid Advertising; Service Vehicle; Notes Payable; Accounts Payable; Landers Capital, Landers Drawing; Plumbing Revenues; Salaries Expense; Rent Expense; Telephone Expense; and Miscellaneous Expense

Required:

Problem 1) ?Prepare the Journal entries in good form, present solutions in Excel

Problem 2)? Post transactions in T Accounts and get the ending balances

Problem 3)? Prepare a Trial Balance