Fay Fedor started a delivery service, Fed Deliveries, on July 1, 2019. The following transactions occurred during the month

of July:

July

01

She contributed P100,000 cash.

02

Purchased a used van for deliveries for P120,000 by paying P20,000 and signed a two-year note payable

for the remaining balance.

03

Paid P15,000 for office rent for the month.

05

Delivery services amounted to P44,000, half on account.

09

Cash of P2,000 withdrawn by May.

12

Purchased supplies for P1,500 on account.

15

Received cash of P12,500 for services provided on July 5.

17

Purchased gasoline for P7,500 on account.

20

Received P15,000 from customers of which P5,000 was for past accounts.

23

Made a cash payment of P25,000 on the note payable.

26

Received bills for utilities P5,000 but paid only P2,500.

29

Paid for the gasoline purchased on account on June 17.

30

Paid P30,000 for employee salaries. A third of supplies remained on hand.

Required:

a)

Show the effects of the above transactions on the accounting equation using the following format:

Date

Cash

Accounts

Receivable

Supplies

Delivery

Van

Notes

Payable

Accounts

Payable

Fedor,

Capital

(Drawing)

Revenues

(Expenses)

Account title