Make a complete trial balance and imcome statement for the following entries. Complete plss. It's our Examination

Duration: 1 hour Direction: Answer the Practice Set for Merchandising Business ABC Design - Periodic System In August 2020, Mr. Al Fabet put up a trading business, ABC Design Enterprise, with an initial investment of P15,000. During the month, the business completed the following transactions: August 2020 2 - Purchased merchandise on account from National Distributors, P14,000 - terms, 2/10, n/30, FOB Shipping point - P170 4 - Received credit from National Distributors for merchandise returned P450. 6 - Sold merchandise on account 12,200 with terms 1/15, n/30, FOB Destination - P150 7- Purchased computer unit on account worth P 15,000 giving a down payment of P 5.000 and the balanced charged to account with terms: 2/10, n/30 8 - Issued credit memo to a customer worth P200 due to some defective goods sold. 9 - Received a loan of P 25,000 on a short-term note payable from Metro Bank 11 - Paid National Distributors in full. 14- Purchased goods from Federal Trading worth P 17.955 - terms 2/10, n/30 15 - Paid Freight for August 14 purchase, P 220 16 - Received credit memo from Federal Training for goods returned due to defects, P455 17 - Paid full amount due to the computer bought Aug 7. 18 - Sold merchandise on account, P15,300 with terms: 2/10. n/30, FOB, Destination - P120. 19 - Made a credit refund to a customer for defective merchandise, P 250. 21 - Received collections in full from customer billed on August 6. 23 - Purchased office supplies in cash, P 2.500. 24 - Paid half the amount due to Federal Trading for goods bought on Aug 14. 25 - Owner withdrew P 3,000 for personal use. 28 - Received partial payment of P 8,000 from customer billed on Aug 18. 29 - Paid the salary of store assistant, P 4,500. 30 - Sold merchandise to customer for cash, P10,000: FOB, Shipping Point - P100. After a physical count at the end of the month, merchandise inventory on hand is P5,569. 91 Page Accounts to Use in Balance Sheet Current Assets . Cash and Cash Equivalents Receivables Inventories Prepaid Expenses Chart of Accounts 101 Cash 110 Accounts Receivable 115 Merchandise Inventory 120 Supplies 140 Office Equipment 201 Accounts Payable 205 Notes Payable 301 Al Fabet, Capital 302 Al Fabet, Drawing 405 Sales 407 Sales Returns and Allowances 409 Sales Discount 510 Purchases 512 Purchase Returns and Allowances 514 Purchase Discount 536 Freight in 610 Salaries Expense 644 Freight Out Non-Current Assets Property. Plant and Equipment Current Liabilities Accounts Payable Notes Payable Equity Al Fabet, Capital JOURNAL Write your realization, understandings, and all things you've learned and experienced in accomplishing the module. Write legibly