Reference no: EM132635062
On December 1 of the current year, Kuh Long opened a beauty parlor. Summary of transactions are shown below:
Dec. 1 - She invested P50,000 in cash to start her parlor business.
2 - Purchased for cash, shop supplies costing, P3,500.
5 - Bought from A & G Company parlor equipment costing P20,000 on credit.
6 - Customers paid P12,000 cash for services rendered.
10 - Made partial payment to A & G Company, P15,000.
12 - Customers were billed on accounts, P14,000 for services rendered.
17 - Rental for the month of December was paid, P6,000.
20 - Collected P8,000 from customers as payment of their accounts.
25 - Paid wages of assistant helper, P4,000.
28 - Services rendered, P9,000 received in cash.
31 - The owner withdrew P10,000 for his personal use.
REQUIRED :
Question 1: Record the above transactions in a two -column journal provided.