Journalize the effects of the transaction. Prepare the debit entries, credit entries and the corresponding explanation for each journal entry

DlRECTlON: Reed and analyze the effects of each of the transactions. Joumalize the ell'ects of the transaction in a twocolumn journal sheet. Prepare all the debit entries, credit entries and the corresponding explanation for each joumal entry. Receding Transactions In a Journal Ruth Russell started Russell Industrial Spray Service on April 1, 2020. During April. Russell completed the following transactions: Date Transactions ' f ril I invested cash in the business. P60.000. ' \"El - . ' I ; 2 l Bought a service vehicle from CDO Motors for P112500, paying P212500 in | cash, with the remainder due in thirty days. 1 i 3 Bought spray equipment on account from Misemis Farm Supplies. P10.000. 4 Paid rent for the month. P5,600. 5 i Paid cash for insurance on service vehicles for the year, P5360. 6 ' Received cash for spray services done on a building, P21,750. 7 Bought supplies for cash. P5.730. e Billed customers on account for services performed. P4.440. I 9 m Received bill for gasoline used by the service vehicle during the month. P3270. 11 Receipt from cash customers, $316,420. Russell withdrew cash for personal use. P10,500. ' u Paid salaries to employees. P20,400