Instruction: Journalize the following transactions: 1/2/2022 MMC, Inc. deposited cash collected from patients to its Chinabank...

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Instruction: Journalize the following transactions: 1/2/2022 MMC, Inc. deposited cash collected from patients to its Chinabank account amounting to Php 350,000. MMC, Inc. purchased supplies worth Php 500,000. Terms: 30% downpayment, n/30 days. Spent 10,000 on gas, 5,000 on office supplies and 2,000 on cleaning supplies. Purchased another ambulance for Php 1,500,000. Terms: 20% downpayment, balance through a bank loan. Paid the remaining for supplies bought on account last 12/7/2021, Php 57,000 Paid the net payroll worth Php 2,200,000. Withheld 500,000 for SSS, 150,000 for HDMF, 200,000 for PHIC. 1/3/2022 1/4/2022 1/5/2022 1/7/2022 1/15/2022 1/22/2022 Paid utilities worth 700,000. 1/24/2022 Paid advertising worth 10,000. 1/25/2022 Paid the telephone bill worth 75,000 1/26/2022 Paid the balance owed for the 1/3/2022 purchase of supplies. 1/30/2022 Paid dividends to the board amounting to 600,000 1/31/2022 Sold meds worth 100,000 costing 70,000. Perpetual inventory system. Instruction: Journalize the following transactions: 1/2/2022 MMC, Inc. deposited cash collected from patients to its Chinabank account amounting to Php 350,000. MMC, Inc. purchased supplies worth Php 500,000. Terms: 30% downpayment, n/30 days. Spent 10,000 on gas, 5,000 on office supplies and 2,000 on cleaning supplies. Purchased another ambulance for Php 1,500,000. Terms: 20% downpayment, balance through a bank loan. Paid the remaining for supplies bought on account last 12/7/2021, Php 57,000 Paid the net payroll worth Php 2,200,000. Withheld 500,000 for SSS, 150,000 for HDMF, 200,000 for PHIC. 1/3/2022 1/4/2022 1/5/2022 1/7/2022 1/15/2022 1/22/2022 Paid utilities worth 700,000. 1/24/2022 Paid advertising worth 10,000. 1/25/2022 Paid the telephone bill worth 75,000 1/26/2022 Paid the balance owed for the 1/3/2022 purchase of supplies. 1/30/2022 Paid dividends to the board amounting to 600,000 1/31/2022 Sold meds worth 100,000 costing 70,000. Perpetual inventory system.