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can you help me to answer this with explanations? TIA Problem 6 Swan Dry Cleaners is owned and operated by Peyton Keyes. A building and

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can you help me to answer this with explanations? TIA

Problem 6 Swan Dry Cleaners is owned and operated by Peyton Keyes. A building and equipment are currently being rented, pending expansion to new facilities. The actual work of dry cleaning is done by another company at wholesale rates. The assets and the liabilities of the business on July 1, 2010, are as follows: Cash P17,000; Accounts Receivable P31,000; Supplies P3,200; Land P36,000; Accounts Payable P10,400 Business transactions during July are summarized as follows: Directions: Based on your prepared journal entries, post the entries to the ledger. Example: CASH ON HAND DESCRIPTION DEBIT Additional Investment 25000 DATE PR 1-1-20 Gja CREDIT BALANCE 25000 DATE PR 1-1-20 BB 1-1-20 Gja KEYES, CAPITAL DESCRIPTION DEBIT Beginning Balance Additional Investment CREDIT 76800 25000 BALANCE 76800 101800 Problem 6 Swan Dry Cleaners is owned and operated by Peyton Keyes. A building and equipment are currently being rented, pending expansion to new facilities. The actual work of dry cleaning is done by another company at wholesale rates. The assets and the liabilities of the business on July 1, 2010, are as follows: Cash P17,000; Accounts Receivable P31,000; Supplies P3,200; Land P36,000; Accounts Payable P10,400 Business transactions during July are summarized as follows: Directions: Based on your prepared journal entries, post the entries to the ledger. Example: CASH ON HAND DESCRIPTION DEBIT Additional Investment 25000 DATE PR 1-1-20 Gja CREDIT BALANCE 25000 DATE PR 1-1-20 BB 1-1-20 Gja KEYES, CAPITAL DESCRIPTION DEBIT Beginning Balance Additional Investment CREDIT 76800 25000 BALANCE 76800 101800

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