110 Cash 120 130 Accounts Receivable 140 Supplies Merchandise Inventory Problem #23 Comprehensive Problem PROFESSOR: Listed below are the Feb. 1, 2020 account balances of the Teresita Buenaflor Shoes: P 33,000 192,000 413,000 150 Prepaid Insurance 51,000 48,000 160 Land 460,000 170 Building 1,750,000 175 180 Equipment Accumulated Depreciation-Building P 350,000 2,310,000 185 210 Accounts Payable Accumulated Depreciation-Equipment 630,000 108,000 220 Salaries Payable 230 Mortgage Payable 2,600,000 310 320 Buenaflor, Capital Buenaflor, Withdrawals 1,569,000 330 Income Summary 410 Sales 420 Sales Returns and Allowances 430 510 520 530 Sales Discounts Purchases Purchases Returns and Allowances Purchases Discounts 540 Transportation In 610 Salaries Expense 620 Supplies Expense 630 640 650 Insurance Expense Depreciation Expense-Building Depreciation Expense-Equipment Transportation Out Advertising Expense 660 670 680 Interest Expense 690 Miscellaneous Expense P5,257,000 P5,257,000 During the month of February 2020, the following transactions occurred: Feb. 1 2 4 5 Collected P113,000 from customers on account. Paid P64,000 of accounts due less discounts of 3%. Purchased merchandise, P170,000. Terms: FOB shipping point; 3/10, n/30. Sold merchandise on account to Gonzales Inc., P270,000. Terms: FOB