DIRECTION: Journalize, post and prepare a trial balance using periodic inventory system. Transactions of MARUPOK Merchandising for March 2019: March 1 Christian Go invested P200,000 in MARUPOK Merchandising broken down as follows: 25% was merchandise, 50% was a furniture and the balance was in cash. 2 Purchased merchandise from SANA ALL Company. Terms: 10%, 2/10, n/30. FOB Destination, freight collect, P76,000. 3 Paid LBC for the freight on the purchase of March 2. P1,000. 3 Sold merchandise for cash to various customers. P7,000. 5 Sold merchandise to NANGANGARAP Company. Terms: 5%, 3/15, n/eom. FOB Shipping point, freight prepaid, P20,000. 6 Purchased and received merchandise from "Linda" Co. Terms: 2/10, n/30. FOB Shipping point, freight prepaid, P42,000. Freight was P2,000. 6 Paid P1,500 to NINJA VAN for the freight on March 5. 7 Sold merchandise to IDOL RAFFY. Terms: 10%, n/30, FOB Destination, freight prepaid, P38,000. 9 Paid BLACK ARROW for the freight on the sale to IDOL RAFFY, P800. 10 Purchased merchandise from MANG ALEX. Terms: 2/10, n/30. FOB Shipping point, freight prepaid for P25,000 including the shipping cost of P1,500. 12 Paid SANA ALL Company, P50,000. No discount was allowed on partial payment. 13 Collected the payment in full from NANGANGARAP Company March 5 transaction. 14 Paid "Linda" Co. half of the amount owed. "Linda" Co. allowed discount to be deducted. 15 Returned defective merchandise to MANG ALEX because it was "Nabugbog" worth P5,000. 16 Purchased 5 chairs for use in the office for P1,000 each from the BARRETO SISTERS. Terms: n/30. 17 Collected half of the amount owed from IDOL RAFFY. No discount was allowed. 18 Paid MANG ALEX in full. 20 20 21 Sold merchandise to DIMPLES Co. Terms: 2/10, 1/30. FOB Destination, freight collect, P10,000. Returned 1 chair to the BARRETO SISTERS because it only has 3 legs. Freight on March 20 transaction was P800. DIMPLES Co. returned P5,000 worth of merchandise because it was faulty. Paid Linda" Co. in full. Received full payment from DIMPLES Co. 25 26 28