B. Recording Transactions in journal entry and T- accounts and preparing Trial Balance. On May 1, 2020, Noel Dawan opened Self-Service Laundry. During May, the following transactions were completed: 1. Dawan deposited P250,000 in a bank account in the name of the business. 2. Bought chairs and a table paying cash, P6,700. 3. Bought laundry supplies on account from Subic Supply Inc., P3,250. 4. Paid rent for the month, P5,570. 5. Bought washing machines and dryers from Bataan Equipment Corp., P115,000, paying P35,000 in cash and the balance on account. 6. Revenues earned on cash basis for the first half of the month, P19,250. 7. Bought insurance for one year, P5,600. 8. Paid accounts to Bataan Equipment Corp., P7,000. 9. Received and paid electric bill, P2,080. 10. Revenues earned on cash basis for the second half of the month, P12,350. 11. Paid salaries of the part-time assistant, P7,400. 12. Dawan withdrew cash for personal use, P5,000. 13. Paid accounts to Subic Supply Inc., P2,750. 14. Paid the city government for sidewalk repair assessment, P2,800. Required: 1. Record the business transaction in journal entry. 2. Establish the following T-accounts: Cash; Accounts Receivable; Prepaid Insurance; Equipment; Furniture and Fixtures; Accounts Payable; Dawan, Capital; Dawan, Withdrawals; Laundry Revenues; Salaries Expense; Supplies Expense; Rent Expense; Utilities Expense and Miscellaneous Expense. 3. Record the transactions directly into the T- accounts using the alphabets to identify each transaction. 4. Prepare a trial Balance