Reference no: EM132808316

Entity B had the following transactions during the period:

1. The sole owner provided P800,000 capital to the business.

2. Entity B rendered services worth 9300,000, on account.

3. Entity B rendered services worth P40,000, on cash basis.

4. Entity B collected P120,000 accounts receivable.

5. Entity B paid utilities expense of P10,000.

Problem a. Provide the journal entries.

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

Problem c. Prepare the unadjusted trial balance as of February 28, 2021.