Journalize the following transactions of Ken Merchandising and answer the question. Thank you!

CHART OF ACCOUNTS 100 Assets 400 Revenues 101 Cash 401 Sales 102 Accounts Receivable 402 Sales Return and Allowances 103 Allowance for Doubtful Accounts 104 Merchandise Inventory 500 Expenses 105 Prepaid Rent 501 Cost of Goods Sold 106 Store Supplies 502 Utilities Expense 107 Store Furniture 503 Salaries Expense 108 Accum. Depreciation - Store Furniture 504 Rent Expense 505 Freight out 200 Liabilities 506 Taxes and Licenses Expense 201 Accounts Payable 507 Store Supplies Expense 202 Salaries Payable 508 Depreciation Expense - Store Furniture 203 Unearned sales 509 Doubtful Accounts Expense 510 Miscellaneous Expense 300 Equity 511 Inventory Shortage 301 Ken Austria, Capital 512 Income Summary Instruction: Use Perpetual Inventory System To determine the cost of goods sold in each sales transaction, the gross profit is 40% based on cost. (Sales Amount times 1.4) Journalize the following transactions of Ken Merchandising. Also, journalize the necessary adjustment for January 2016. After Journalizing, answer this question: Is there any missing merchandise inventory? January 01 Ken invested 500,000 cash into Ken Merchandising. Also, he paid 66,000 for six months' rent on the store space, P13,000 for business licenses and permits, and P60,000 for various store furniture. January 01 He also bought P90,000 worth of office supplies on account with the intention to sell them at a higher price. The company paid 500 for the shipping fee. FOB Terms: FOB Shipping point January 02 The next day, the business received a P2,500 credit memo for allowance granted on the purchased merchandise. The supplies were bought from Fact Supplies Store on terms n/60. January 04 The business bought P10,000 worth of supplies to be used in the store on terms 50% down payment, balance n/30. January 10 Michaela, a part time employee, was able to sell some of the store's merchandise to Mr. Daniel for P15,000 on terms 50% down payment, balance 2/10, n/30. FOB Terms: FOB Destination, Freight Collect. Mr. Daniel paid 900 shipping fee. January 15 The business sold to Mrs. Cooper merchandise for P10,000 on terms 2/10, n/30. January 25 Mr. Jonas paid the business P40,000 for merchandise bought on the same day. Mr. Jonas already paid all the merchandise in full, however, he requested that some merchandise be delivered to his new business address sometime next month. January 31 At the end of the month, the business paid utilities totaling P5000 and miscellaneous expenses amounting to P4,000 Merchandise inventory as of January 31, 2016, is P15,500, based on physical count. This excludes the amount of inventory to be delivered, based on January 25 transaction