Activity 4: Recording Transactions in a Financial Transaction Worksheet Emerita Modesto established her own business called Modesto's Self Storage. The account headings are presented below. Transaction completed during the month follows. | Total Assets Cash + Accounts Receivable Assets + Prepaid Insurance + Office Equipment Write your answer here aligned with the column of each respective accounts. Liabilities Accounts Payable Total Liabs & OE + Owner's Equity = Modesto, Capital + Revenue Expenses Write your answer here aligned with the column of each respective accounts. Note: Total Assets must be equal with Total Liabs & OE Transactions: a. Deposited Php120,000 in a bank account in the name of the business. b. Bought office equipment on account from PHINMA Company, Php31,000. c. Paid rent for the month, Php24,000. d. Bought supplies for cash, Php4,500. e. Paid salaries, Php9,800. f. Received cash for storage services, Php36,000. g. Received and paid the utility bill, Php2,520. h. Paid Errol Umerez Graphics for advertising, Php 4,280. i. Paid for a one-year liability insurance policy, Php8,350. j. Billed customers for storage services on account, Php33,700. k. Received cash for storage services, Php23,000. I. Paid salaries, Php9,900. m. Paid PHINMA Company Php11,000 as part payment on the office equipment bought in transaction b. n. Modesto withdrew Php12,000 for personal use. Required: 1. Record the transactions in columnar form, write plus and minus signs, and show the balance after each transaction to be sure the equation remains balance. 2. Write the proof of totals at the bottom to show that one side of the equation equals the other side.