Happy \& Healthy is a consulting business organized to help individuals improve health and well-being. The company was founded on October 1, 2023 and entered into the following transactions: The owner, Ms. Happy Maayo invested cash, P600,000 and an equipment purchased 3 years ago for P300,000 with a book value of Oct 1 P150,000 and a fair market value of P170,000. 1 Purchased additional equipment for cash, P180,000. Purchased a one-year insurance policy to be consumed evenly over the next 12 months, P3,600. The company debited Prepaid 1 Insurance to record this purchase. 1 Took out a loan from Metrobank, P300,000. The term of the loan is 2 years. Annual interest rate is 8%. 6 Hired employees for a monthly salary of P12,000 each. Received advanced payment for a contracted job to be performed in October and November, P55,000. The company credited 6 Unearned Consultancy Fees to record this transaction. 7 Purchased office supplies from All Natural, Inc, P10,000; terms: n/30. 8 Billed customers for services rendered: CareShare Company - P45,000 Organic, Inc. - P95,000 9 Returned P3,000 worth of defective supplies to All Natural, Inc. 10 Rendered services for cash, P22,500. 12 Paid P20,000 to have an ad placed on a billboard. 18 Billed customers for services rendered: A New You - P35,000 Healthy Lifestyle - P70,000 24 The owner withdrew cash, P50,000. 26 Collected customer's account: CareShare Company - P35,000; A New You - P25,000. 27 Paid P5,000 to All Natural, Inc. 28 Collected customer's account: Organic, Inc. - P75,000; Healthy Lifestyle - P50,000. 30 Received utility bills for the month to be paid in November, P5,200. Paid rent for 6 months, P72,000 including rent for June. The company debited P12,000 to Rent Expense and the remaining P60,000 30 to Prepaid Rent. 30 Paid salaries, P20,000. 30 Supplies used up, P4,500. a. Prepare the Joumal Entries for October transactions using the chart of accounts below. b. Post the Joumal Entries to respective T-accounts. c. Prepare the Unadjusted Trial Balance for October 2023 on the provided Worksheet. d. Prepare the Adjusting Entries. e. Prepare the Worksheet. f. Compute the net income. g. Prepare the Closing Entries. h. Prepare the Post Closing Trial Balance. Happy \& Healthy is a consulting business organized to help individuals improve health and well-being. The company was founded on October 1, 2023 and entered into the following transactions: The owner, Ms. Happy Maayo invested cash, P600,000 and an equipment purchased 3 years ago for P300,000 with a book value of Oct 1 P150,000 and a fair market value of P170,000. 1 Purchased additional equipment for cash, P180,000. Purchased a one-year insurance policy to be consumed evenly over the next 12 months, P3,600. The company debited Prepaid 1 Insurance to record this purchase. 1 Took out a loan from Metrobank, P300,000. The term of the loan is 2 years. Annual interest rate is 8%. 6 Hired employees for a monthly salary of P12,000 each. Received advanced payment for a contracted job to be performed in October and November, P55,000. The company credited 6 Unearned Consultancy Fees to record this transaction. 7 Purchased office supplies from All Natural, Inc, P10,000; terms: n/30. 8 Billed customers for services rendered: CareShare Company - P45,000 Organic, Inc. - P95,000 9 Returned P3,000 worth of defective supplies to All Natural, Inc. 10 Rendered services for cash, P22,500. 12 Paid P20,000 to have an ad placed on a billboard. 18 Billed customers for services rendered: A New You - P35,000 Healthy Lifestyle - P70,000 24 The owner withdrew cash, P50,000. 26 Collected customer's account: CareShare Company - P35,000; A New You - P25,000. 27 Paid P5,000 to All Natural, Inc. 28 Collected customer's account: Organic, Inc. - P75,000; Healthy Lifestyle - P50,000. 30 Received utility bills for the month to be paid in November, P5,200. Paid rent for 6 months, P72,000 including rent for June. The company debited P12,000 to Rent Expense and the remaining P60,000 30 to Prepaid Rent. 30 Paid salaries, P20,000. 30 Supplies used up, P4,500. a. Prepare the Joumal Entries for October transactions using the chart of accounts below. b. Post the Joumal Entries to respective T-accounts. c. Prepare the Unadjusted Trial Balance for October 2023 on the provided Worksheet. d. Prepare the Adjusting Entries. e. Prepare the Worksheet. f. Compute the net income. g. Prepare the Closing Entries. h. Prepare the Post Closing Trial Balance