journalize these 2 entries (3.16-3.17)

Exercise 3-16. Journal Entries Joumalize the following selected transactions of MJ Dry Cleaning. The following transaction occured during June 2013 | MJ Flores invested in the business the ff: P250,000 cash and P420,000 worth of dry cleaning equipment with fair value of P400,000 but with existing liability of P100,000 which is to be assumed by the business. 2 Purchased dry cleaning supplies from Wilson Cleaners for P22,100, payable after 20 days. 3 Bought cash register from Carter Equipment, P45,800. Terms: 30% down payment, balance on account. 7 Dry cleaning services rendered for the week totaled P25.250 cash. 8 Borrowed P150,000 from Banco de Oro and issued a promissory note. 10 MJ Flores made additional investment of chairs and tables, P12,100. 14 Dry cleaning services rendered for the week amounted to P25,200 cash and P20,000 on account. 17 Settled 50% of the account balance on the cash register purchased on account. 20 The business paid the personal liability of the owner, P12,500. 22 Paid the dry cleaning supplies bought on June 2. 23 The owner withdrew office supplies for his personal use, P300. 25 Billed City Garden Hotel for dry cleaning services rendered, P50,000 28 Paid rent for the month, P12,000. 29 Paid wages of the workers, P7,500. 30 Received the electricity bill from MERALCO, P33,200. Exercise 3-17. Journal Entries The Fedder Aircon Repair Center had the following transactions for its first month of operation. Record the following transactions in the general journal. These transactions occurred during May 2013. 1 The owner, Fred Dee, invested P350,000 cash and shop equipment worth P50,000 but with fair value of P45,000. 2 Paid rent for 6 months, P60,000. 3 Purchased shop supplies for P10,000 on credit from Avenson Trading 4 Returned P1,200 worth of shop supplies due to wrong specification 5 Bought a service van from Aspen Motors for P550,000. Terms: 30% down payment, balance payable in 10 equal monthly installments starting May 13. 6 Paid one-year insurance on the service van, P12,250. 7 Bought shop equipment from Kenneth Hardware for P75,500. Terms: 20% down payment, balance on account. Exercise 3-16. Journal Entries Joumalize the following selected transactions of MJ Dry Cleaning. The following transaction occured during June 2013 | MJ Flores invested in the business the ff: P250,000 cash and P420,000 worth of dry cleaning equipment with fair value of P400,000 but with existing liability of P100,000 which is to be assumed by the business. 2 Purchased dry cleaning supplies from Wilson Cleaners for P22,100, payable after 20 days. 3 Bought cash register from Carter Equipment, P45,800. Terms: 30% down payment, balance on account. 7 Dry cleaning services rendered for the week totaled P25.250 cash. 8 Borrowed P150,000 from Banco de Oro and issued a promissory note. 10 MJ Flores made additional investment of chairs and tables, P12,100. 14 Dry cleaning services rendered for the week amounted to P25,200 cash and P20,000 on account. 17 Settled 50% of the account balance on the cash register purchased on account. 20 The business paid the personal liability of the owner, P12,500. 22 Paid the dry cleaning supplies bought on June 2. 23 The owner withdrew office supplies for his personal use, P300. 25 Billed City Garden Hotel for dry cleaning services rendered, P50,000 28 Paid rent for the month, P12,000. 29 Paid wages of the workers, P7,500. 30 Received the electricity bill from MERALCO, P33,200. Exercise 3-17. Journal Entries The Fedder Aircon Repair Center had the following transactions for its first month of operation. Record the following transactions in the general journal. These transactions occurred during May 2013. 1 The owner, Fred Dee, invested P350,000 cash and shop equipment worth P50,000 but with fair value of P45,000. 2 Paid rent for 6 months, P60,000. 3 Purchased shop supplies for P10,000 on credit from Avenson Trading 4 Returned P1,200 worth of shop supplies due to wrong specification 5 Bought a service van from Aspen Motors for P550,000. Terms: 30% down payment, balance payable in 10 equal monthly installments starting May 13. 6 Paid one-year insurance on the service van, P12,250. 7 Bought shop equipment from Kenneth Hardware for P75,500. Terms: 20% down payment, balance on account