Journalize the transactions of Beta Company under the periodic inventory system.

DateTransactions

2018

July 1Lily made an additional investment in the form of merchandise which she originally acquired for P70,000 but has a current fair market value amounting to P85,000.

4Purchased merchandise from Alpha Marketing amounting to P100,000 less 10 on terms 50% down, balance 2/15, n/30.

7Sold merchandise to Peak Merchandising P60,000 on terms 1/15, n/30.

10Paid the freight on merchandise delivered to Peak Merchandising amounting to P1,200.

12Issued a debit memo for P1,000 to Alpha Marketing for defective merchandise.

15Issued a credit memo to Peak Merchandising due to wrong merchandise delivered, P2,500.

18Settled the account with Alpha Marketing in full.

20Sold merchandise to cash customers amounting to P93,000.

22Collected Summit's account in full.

30Sold merchandise to Pandora Department Store amounting to P150,000 on account.