Hi, My subject is Basic Accounting.

The transactions will serve as questions and you'll be asked to provide the entry for a given transaction. Prepare the entries on the corresponding Journals. Thank you so much for helping me :D

The following are selected transactions for KnK Enterprises on September 2020. All transactions involving sale and purchase of goods and services are VAT-inclusive, except sale and purchase transactions quoted at a list price, in which case, 12% VAT will be computed and added to the invoice price.
03-Sep	Bought merchandise from Min Ho Trading, P48,160, term: 2/10, 1/20, n/30
03-Sep	FOB Shipping point, Freight prepaid: P2,240
04-Sep	Received a credit memorandum from Min Ho Trading for defective merchandise returned, P3,360.
06-Sep	Sold merchandise to Bee Hun, P16,800; term: 2/10, n/30
09-Sep	Purchased a cash register from Jun Song for P23,520; terms: P6,720 downpayment, balance in 2 equal monthly installments.
10-Sep	Received a 20-day, 15% note from Seo Park, in exchange for loan of P15,000 extended to him
11-Sep	Bought additional store supplies on credit from Bo Goom, P4,200.
13-Sep	Paid Min Ho Trading in full.
15-Sep	Received shipment of merchandise from Sho Khang, P16,800, for which a 15-day, 12% note was given.
16-Sep	Collected the account of Bee Hun in full.
20-Sep	Sold merchandise to Min Park, P28,000, receiving 20% downpayment and a 20-day, 9% promissory note for the balance.
25-Sep	Sold merchandise to Suk Lee; term: 10%trade discount on the list price of P30,000; n/30.
29-Sep	Borrowed P50,000 from MayBank by discounting own 60-day, 12% note.
30-Sep	Paid the note issued to Sho Khang.