Equilibrium Car Rentals owned by Japok Bernardo opened on the month of March 2004 and completed the following transactions: 1 - He invested P20, 000 and two L- 300 escapade worth P60, 000 each. He paid one L- 300 and the other was financed by FTC through a car loan. 2 - Paid P500 for advertising in local cable T.V. 3 -Paid insurance of L-300, P6, 500. 4 - Purchase Furnitures worth P8000 by giving 25 down payment to "Kahoy Atbp". 5 - Received P8000 from J. De Guzman for rental of car. 6 - Received from C. Pailas P2, 800 for rental of car. 7 - Paid Gasoline P1, 550. 8 - Paid FTC P20, 000 as partial payment of account. 9 - Received from a student, P4,500 for rental of L-300. 12 - Sent a bill to L. San Pedro for car rent to Laur P1,500 14 - Paid Gasoline, P750 16 - Paid P475 for repair of L-300 20 - Received P15,000 for 3 day rent of L-300. 22 - Received full payment from L. San Pedro. 24 - Paid P550 for engine repair of L-300. 26 - Paid 2 drivers P600 for their salary. 29 - Paid the following. : Telephone P1,020 Light and Water 1,450 Shop Space 1,200 30 - Received from M. Elefante P13,550 as payment for car rental for 4 days. Activity 2 for FS gcaburian@yahoo.com