Date SEPTEMBER 2 Transaction 5 Jack Sparrow withdrew P500,000 from his personal account in Allied Bank and deposited the account to BPI under the account Scissorhands Men's Salon. Bought $600,000 salon equipment from Marker Electronics. Terms of payment are as follows: 20% downpayment, 50% was approved as loan with MetroBank payable in five years with 10% annual interest and the balance on account. 6 Hired 9 employees paying P6,000 monthly. 7 Bought salon supplies from Land Mark, P15,000 on account 8 Returned 10% defective supplies bought from Land Mark. 9 Bought furniture from London's Home Depot worth $14,000. Paid P8,500 cash and the remaining balance on account. 10 Bought office supplies, $2,400. 14 Rendered salon services to Todd's employees on account, $90,000. 15 Paid $175,000 for repairs and maintenance of the salon. 17 Withdrew P42,500 for personal expenses. 20 Jack deposited #30,000 in the business account as additional investment. 21 Collected 50% of the acount from Todd. 23 Salon services rendered for cash to clients in A&C Apartel, P9,000. 24 Collected remaining receivable from Todd. 24 Full settlement of account with Land Mark. 25 Received utility bills for the month, P12,750. 26 Full settlement of account with London's Home Depot. 27 Paid employee's monthly salaries. 28 Paid monthly utility bills. 30 Rendered salon services to Harbor Riders, receiving #7,500 cash and the remaining P8,250 on account.