Reference no: EM132749530

Question: A government agency had the following transactions during the month:

1) Established petty cash fund, P100,000.

2) Replenishment of the petty cash fund:

Office Supplies Expense, P40,000

Travelling Expenses-Local, 30,000

Representation Expenses, P10,000

3) Bill received from MERALCO, P112,000.

4) PLDT bill, P44,800.

5) Payment of PLDT bill, net of appropriate government tax.

6) Payment of MERALCO bill, net of appropriate of government tax.

7) Signing of the contract for the rental of office space with 6 months advance payment of P134,400.

8) Issued special order for the attendance to seminar, fee of P5,000.

9) Payment of the seminar fee.

10) Receipt of liquidation report with Certificate of Attendance for advances to seminar.

11) Approval of itinerary of local travel, P30,000.

12) Payment of per diems and allowances related with the local travel, P30,000.

13) Liquidation of cash advance for travel.

14) Issuance of PO to dealer of office equipment, P35,000

15) Receipt of office equipment with charge invoice.

16) Payment of the delivered equipment, net of appropriate government tax.

17) Obligation for ICT Equipment per Purchase order, P100,000.

18) Payment to Procurement Service for IT equipment.

19) Receipt of IT Equipment based on Invoice/Delivery Receipt.

Prepare the appropriate journal entries for each transaction.