Dec $1.$ An auto repair shop, MPCs Quality Transactions MPC contributed Php $50,000$ cash to the business in exchange for capital.

$$ Dec $1$ Purchased Php$10,800$ of equipment paying cash.

$$ Dec $1$ Paid Php $4,500$ for a $9-$month insurance policy starting on December $1.$

$$ Dec $9$ Paid Php$18,000$ cash to purchase land to be used in operations.

$$ Dec $10$ Purchased office supplies on account, Php $3,000.$

$$ Dec $19$ Borrowed Php$28,000$ from the bank for business use. MPC signed a note payable to the bank in the name of the business.

$$ Dec $22$ Paid Php$800$ for advertising expenses.

$$ Dec $26$ Paid Php$1,000$ on account.

$$ Dec $28$ The business received a bill for utilities to be paid in January, Php$280.$

$$ Dec $31$ Revenues earned during the month included Php$17,500$ cash and Php$2\mathrm{.}700$ on account.

$$ Dec $31$ Paid employees' salaries Php$3,600$ and building rent Php$700.$

$$ Dec $31$ The business received Php$1,440$ for auto screening services to be performed next month

$$ Dec $31$ MPC withdrew cash of Php$3,000$