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Accomplish the journalization and posting of the following transaction taken from the books of ABM Services for the month of July 2017. Next, create the
Accomplish the journalization and posting of the following transaction taken from the books of ABM Services for the month of July 2017. Next, create the trial balance of total and trial balance of balances and finally, make a financial statements, owner's equity and cash flow. TRANSACTIONS July 1 - Antonio B. Manalastas opened a repair shop business in SJDM Bulacan with the trade name ABM Services and invested cash for P100,000; shop equipment for P65,000; furniture and fixtures for P50,000. July 2-paid one year rental of the shop amounting to P60,000. July 2- Rendered services for cash-P75,000 July 5- rendered services on account for P100,000 with 30% down payment and balance on account July 10- Purchased a computer on account at Kite Appliances Center for P45,000 and made a 10% down payment July 15 - paid salaries of employees for P30,000, minus withholding tax of P2,500; SSS premium for P800; and Pag-ibig premium for P200. . July 20 - Collected 50% of the services rendered last July 5 for P35,000 July 25 - rendered services on account for P125,000 with 50% down payment and the balance on account July 31 - Paid the salary of employee for P50,000 minus the withholding tax of P3,500; SSS premium for P1,250; and Pag-ibig premium for P400
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