2020 April 2 3 4 13 157012182222 14 Prepare the journal entries to record the April transactions. Set up the ledger accounts and post all the journal entries using the chart of account below as reference. Prepare a trial balance. Lara Lee is a painting contractor. During the month of April, she completed the following transactions: Invested in the business painting equipment valued at P12,300 and cash amounting to P71,000. Acquired a service vehicle costing P80,000. Paid P50,000 cash signed a note for the balance. Purchased painting supplies on account for P3.200. Completed a painting job and billed the customer P4,800. Received P1,500 cash for painting an apartment room. Purchased painting supplies for P1,600 cash. Received a P4,800 cash from the customer billed on April 5. Paid P4,000 for an insurance policy for a one-year coverage. Billed a customer P6,200 for a painting job. Paid the assistant P1,500 for twenty-five hours' work. Paid for the painting supplies purchased on April 4. Received a telephone bill for P600, due next month. Received P3,300 in cash from the customer billed on April 13. Paid P2,000 on the note signed for the service vehicle. 29 Paid the assistant P1,800 for thirty hours' work. 23 Painting Services Chart of Accounts 101 Cash 102 Accounts Receivable 103 Painting Supplies 104 Prepaid Insurance 105 Painting Equipment 106 Service Vehicle 201 Accounts Payable 202 Notes Payable 203 Utilities Payable 301 Lee, Capital 302 Lee, Drawings 401 Painting Revenues 501 Salaries Expense 502 Utilities Expense