Reference no: EM133133162

Question - The following are the business transactions of Gandang Ganda Lang Parlor Shop owned by Beauty Siya.

Transactions for the month of January 2019 are the follows:

January 1, 2019- Ms. Beauty invested Php 500,000 in the business.

January 4, 2019- Paid the following:

Business Permit- Php 9,500

One-Year Insurance- Php 12,000

January 7, 2019- Purchase different kinds of Parlor Equipment amounting to Php 185,000.

January 8, 2019- Purchase the needed Parlor supplies amounting to Php 75,000.

January 10, 2019- Purchase tables, chairs, cabinets and other furniture for the shop on account with Handsome Furniture Shop amounting to Php88,000.

January 13, 2019- Rendered services to cash customers amounting to Php 15,000.

January 15, 2019- Received promissory note for the wedding services rendered to Natalia Cruz, amounting to Php 50,000.

January 16, 2019- Paid beautician's and assistant's salary for the first time half of the month, amounting to Php 8,500.

January 18, 2019- Partial payment of the account to Handsome Furniture amounting to Php 44,000.

January 22, 2019- Received full payment from Natalia Cruz for the transaction on January 15, 2019.

January 25, 2019- Rendered services to various customers, amounting to Php36,000.

January 27, 2019- Payment of utilities such as water, electricity, cable and internet Connection amounting to Php7,800.

January 28, 2019- Payment of shop rental amounting to Php 5,000.

January 30, 2019- Paid beautician's and assistant's salary for the second half of the mon month, amounting to Php 8,500.

Required -

1. Prepared a journal entry of Gandang Ganda Lang Parlor Shop.

2. Prepared T-account.

3. Prepared the Trial balance of Gandang Ganda Lang Parlor Shop.