ar/Section Date Rating Journalize the following selected transactions for the month of Jan. 2013. Jan. 5 Sold merchandise on account - PhP20,000 with terms of 10% trade discount; 20% d/p; 2/10, n/30; freight charges - PhP1,500 FOB destination collect Jan. 8 Purchased merchandise on account - Php50,000 with terms of 20% trade discount; 50% down; 10/2, 2/10 Jan. 10 Partial collection on Jan. 5 transaction - PhP4,000 Jan 12 Cash sales to walk-in customers PhP5,000 Jan. 13 Returned merchandise from Jan. 8 purchases, PhP2,000 due to defects Jan. 15 Partial payment of Jan. 8 transaction, PhP7,500 Jan. 17 Payment of rental in advance for 1 year, PhP240,000 Jan. 20 Received proceeds of bank loan with Bank X, PhP400,000 Jan. 22 Full collection of Jan.5 transaction Jan. 30 Full payment of account of Jan. 8 transaction Jan. 30 Paid the salaries of employees, PhP45,000 Jan. 30 Payment of electricity bill for the month of January, PhP5,500 Jan. 30 Purchased merchandise for cash PhP500,000; trade discount 5%, 10%, 15%; 30% down; 10/2, 2/10, 2/30; freight charges PhP5,000; FOB shipping point prepaid Jan. 31 Purchase allowance was allowed from Jan. 30 purchases due to some defects Jan. 31 Edna, the owner, withdrew PhP2,500 for personal use