Lraknai Sanpemud started a new business and completed these transactions during August:

Aug. 1Sanpemud invested PHP48,000 cash in the business.

1Rented office space and paid PHP800 cash for the August rent.

3Purchased exploration equipment for PHP22,000 by paying PHP12,000 cash and agreeing to pay the balance in 3 months.

5Purchased office supplies by paying PHP1,500 cash.

6Completed exploration work and immediately collected PHP420 cash for the work.

8Purchased PHP1,350 of office equipment on credit.

15 Completed exploration work on credit in the amount of PHP8,000.

18Purchased PHP700 of office supplies on credit.

20Paid cash for the office equipment purchased on August 8.

24 Billed a client PHP2,400 forwork completed; the balance is due in 30 days.

28 Received PHP5,000 cash for the work completed on August 15.

30Paid the assistant's salary of PHP1,100 cash for this month.

30Paid PHP340 cash for this month's utility bill.

30 Sanpemud withdrew PHP1,050 cash from the business for personal use.