INSTRUCTION. Prepare the General Journal, T-Account, Worksheet, Statement of Financial Position, Statement of Comprehensive Income, Statement of Changes in Equity and Closing Journal Entries. The following transaction occurs in February 2022 in the records of Printopia Printing Services. February 1 - Initial capital investment of PPS amounts to, P1,500,000. February 1 - PPS purchase Heat Press Machine P12,500, Cutting Machine P18,500, Epson L3100 Printer P21,000, and Acer Laptop P54,000 to be used in the operation of the business. February 1 - PPS paid advance rent for 6 months. P120,000. February 2 - PPS received an order for P12,000 for shirt printing services. PPS rendered and delivered the order on the same day. Client will pay on February 15, 2022. February 4 - PPS purchase supplies to National Bookstore amounting to P 80,000. PPS paid CASH. February 4 - PPS rendered embroidery services to San Miguel Corporation. PPS billed the client, P250,000 and give 15 days' terms for the payment. February 5 - a walk-in client avail printing services. The customer paid P10,000 for the services rendered. February 6 - PPS purchase a laminating machine for ID. PPS received a billing invoice from the supplier amounting to P15,000 with 15 days term. February 10 - PPS paid the following expenses: Salary of personnel P15,000, Meals P 25,000, Internet Expense P6,500 and Repairs P2,500. February 12 - PPS received an advance payment of P150,000 from the client for office uniforms printing services to be delivered on February 25, 2022. February 15 - PPS received P500,000 cash from BDO Universal Bank. The term of the loan is 5 years. Repayment of the loan is monthly. PPS will start paying this month. February 15-PPS received payment of P12,000 from client last February 2. February 18 - PPS purchase additional supplies. P50,000. PPS paid cash. February 20 - PPS service rendered for a client P10,000. The client issued a note with 10 days term. February 21 - PPS received Meralco bill for February amounting to P34,500. PPS will pay the bill on March 5, 2022 February 25 - PPS delivered to the client the uniforms ordered last February 12, 2022. February 26 - PPS purchase additional Epson Printer for the business. PPS received a billing from Abenson Inc. amounting to P 55,000. Billing due date is on March 15, 2022. February 28 - PPS rendered a rush printing services from a client amounting to P250,000. The client will pay PPS on March 1, 2022 February 28 - Inventory of supplies shows that only P10,500 as supplies unused February 28 - PPS recorded depreciation. All PPE has a residual value of P5,000 with useful life of 5 years. February 28 - PPS withdraw cash from the business. P250,000 February 28 - Rent expired for February 2022. February 28 - PPS paid P30,000 as repayment of Loan to BDO