Merchandising Operations 367 NAME: SECTION SCORE: PROFESSOR: Problem #23 omprehensive Problem uited below are the Feb. 1, 2018 account balances of the Teresita Buenaflor Shoes: given 110 Cash 120 Accounts Receivable P 33,000 192,000 413,000 51,000 48,000 460,000 1,750,000 Merchandise Inventory 140 Supplies 150 Prepaid Insurance 160 Land 170 Building 175 Accumulated Depreciation-Building 180 Equipment 185 Accumulated Depreciation-Equipment 210 Accounts Payable 220 Salaries Payable 230 Mortgage Payable 310 Buenaflor, Capital 320 Buenaflor, Withdrawals 330 Income Summary 410 Sales 420 Sales Returns and Allowances 430 Sales Discounts 510 Purchases 520 Purchases Returns and Allowances 530 Purchases Discounts 540 Transportation In 610 Salaries Expense 620 Supplies Expense 630 Insurance Expense 640 Depreciation Expense-Building 650 Depreciation Expense-Equipment 660 Transportation Out 670 Advertising Expense 680 Interest Expense 690 Miscellaneous Expense P 350,000 2,310,000 630,000 108,000 2,600,000 1,569,000 each P5,257,000 P5,257,000 During the month of February 2018, the following transactions occurred: 1 Collected P113,000 from customers on account. Purchased merchandise, P170,000. Terms: FOB shipping point; 3/10, n/30. 5Sold merchandise on account to Gonzales Inc, p270,000. Terms: FOB Paid P64.000 of accounts due less discounts of 3%