1. Receipt of allotment for: 1,000,000 CO 700,000 MOOE 700,000 PS 100,000 FE TOTAL 2,500,000 Receipt of notice of Cash Allocation from DBM- P2,000,000 N Obligation for PS, P500,000. Recording of expenses 400,000 Salaries 50,000 PERA 50.000 500,000 ADCOM 60,000 Less: Wtax Life & ret. Premiums 45,000 Pag-ibig premiums 6.000 4,000 115,000 Philhealth premiums 385,000 Net amount Grant of cash advance for payroll-P385,000. Liquidation of cash advance. Remittance of salary deductions, excluding withholding tax. Obligation for government share: Life & Ret. Contribution P60,000 Pag-ibig Contributions 6,000 Philhealth contributions 4,000 ECC Contributions 1,000 9. Remittance of Government share. 10. Payment of one year rent, P60,000, less tax. 11. Payment of Meralco bill, P50,000, less tax. 12. Payment of PLDT bill, P30,000, less tax. 13. Granting of cash advance for travel, P50,000. 14. Liquidation of cash advance for travel, P40,000. 15. Refund of excess cash advance. 16. 17. Deposit of cash collection to BTr. 18. Establishment of Petty cash fund, P30,000. Replenishment of petty cash fund. Office supplies , P20,000 Postage & deliveries, P8,000 20. 19. Purchase of Office equipment on account, P300,000. 21. Purchase of IT Equipment and Software, P500,000, on account. 22. Payment of all accounts payable, net of tax. 23. Remittance of withholding taxes thru TRA. 24. Advance payment to Procurement Service for office supplies, P50,000. Receipt of office supplies and invoice from procurement service.GOVERNMENT ACCOUNTING 25. Received report of supplies issued from the Property/supplies unit, Office supplies used, P45,000. 26. Depreciation for the following: Office equipment, P27,000 IT Equipment, P50,000 27. Rent expense for the year, 9 months. Required: 1. Journalize all transactions. 2. Journalize the closing entries. 3. Prepare the financial statements