Mr. Tristan Say It established Say Bookkeeping Services and had the following transactions for the month of February:
Investment of P150,000 cash fund by Mr. Sy into the business
Received Charge Invoice from a supplier for the purchase of a desktop computer amounting to P32,500. The computer is estimated to be useful for five years and have a salvage value of P2,500 thereafter.
19
Purchased supplies amounting to P18,000 in cash
15
Faid P6,000 insurance for sox months.
18
Issued a Service Invoice for an amount of P50,000 to a customer for services rendered on account
19
Received P35,000 cash from customers in payment of their account.
20
Paid in cash and received an official receipt from the sappier for payment of accounts, P20,000
21
Rendered services to customers billed for P30,000
Cash payment of P15,000 for the salary of an employee
Mr. Sty withdrew P12,000 cash from the business
Paid the telephone bill for February amounting to P3,000
Supplies remaining on hand worth P15,000