Mr. Lando Ilongo purchased a Theatre on Dec. 1, 2022 and the following are transactions related to his business for the month of December, 2022. The Nos. served as dates: 1. Deposited P160,000 cash in a bank account for use in acquiring an operating Ilongo Theatre 2. Purchased the Theatre for P240,000, allocated as follows: Equipment, P60,000; Building, P100,000; Land, P80,000. Paid P100.000 cash and gave a mortgage note for the remainder. 4. Paid for June billboard and newspaper advertising, P4,000 . Purchased supplies, P2,500 and equipment, P8,000 on account. 6. Recorded cash receipts from admission for the week, P21,000 7. Paid miscellaneous expense, P650 8. Recorded cash receipts from admission for the week, P19, 600 9. Paid semimonthly salary, P16 ,000 10. Returned a portion of equipment purchase in (N o 5) to the supplier, receiving full credit for its cost, P1,.500 11. Paid miscellaneous expense, P390 12. Entered into a contract for the operation of the refreshment stand at ac rental of 10% of the concessionaire's sales, with a minimum of P2,500 a month, payable in advance. Received cash of Pl,250 as the advance payment for the period June 1y, the effective date of the contract, to June 30. 13. Cash receipts from admission for the week, P18,900 14 pair! nal-I fn rpifnrc an anr'rvnnf D": \"\"0 U't Payment 18 due on Jury. Instructions: a. Open the following Account titles: CASH 11, ACCOUNTS RECEIVABLE 12, PREPAID INSURANCE 14, SUPPLIES 15, EQUIPMENT 20, BUILDING 21, LAND 22, ACCOUNTS PAYABLE 26, MORTGAGE NOTE PAYABLE 27, Lando CAPITAL 31, Lando DRAWING 32, ADMINISSION INCOME 40, CONCESSION INCOlVlE 41, WAGES EXPENSE 50, RENTAL EXPENSE 51, ADVERTISING EXPENSE 52, UTILITIES EXPENSE 53, MISCELLANEOUS EXPENSE 54. b. Record the above transactions in a two column journal 0. Post journal entries to the ledgers d. Summarize the ledger and obtain balances e. Prepare a trial balance f. Prepare a Statement of Comprehensive Income for the month ending Dec. 31, 2022 g. Prepare a Statement of Financial Condition ending Dec. 31 , 2022 Payment 18 due on Jury. Instructions: a. Open the following Account titles: CASH 11, ACCOUNTS RECEIVABLE 12, PREPAID INSURANCE 14, SUPPLIES 15, EQUIPMENT 20, BUILDING 21, LAND 22, ACCOUNTS PAYABLE 26, MORTGAGE NOTE PAYABLE 27, Lando CAPITAL 31, Lando DRAWING 32, ADMINISSION INCOME 40, CONCESSION INCOlVlE 41, WAGES EXPENSE 50, RENTAL EXPENSE 51, ADVERTISING EXPENSE 52, UTILITIES EXPENSE 53, MISCELLANEOUS EXPENSE 54. b. Record the above transactions in a two column journal 0. Post journal entries to the ledgers d. Summarize the ledger and obtain balances e. Prepare a trial balance f. Prepare a Statement of Comprehensive Income for the month ending Dec. 31, 2022 g. Prepare a Statement of Financial Condition ending Dec. 31 , 2022 \fJournal Entries General Ledger Trial Balance A B C D E F G H 243 Date Explanation F Debit Date Explanation F 244 2022 2022 245 October 30 Adjustment J-2 P 5,000.00 October 30 Closing J-3 246 247 248 249 Account: Depreciation Expense-Equipment Accoul 250 Date Explanation F Debit Date Explanation F 251 2022 2022 252 October 30 Adjustment J-2 P 9,000.00 October 30 Closing J-3 253 K 254Journal Entries General Ledger Trial Balance A C D E F G H J K L M 241 242 Account: Depreciation Expense-Building Account No. 243 Date Explanation F Debit Date Explanation F Credit 244 2022 2022 245 October 30 Adjustment J.2 5,000.00 October 30 Closing 5000.00 246 247 248 249 Account: Depreciation Expense-Equipment Account No. 250 Date Explanation F Debit Date Explanation F Credit 251 2022 2022 252 October 30 Adjustment J-2 9,000.00 October 30 Closing 9.000.00 253 254 255 256 Account: Interest Expense Account No 257 Date Explanation F Debit Date Explanation F Credit 258 2022 2022 259 October 30 Adjustment J-2 28,000,00 October 30 Closing J-3 28.000,00 260 261 262Journal Entries General Ledger Trial Balance B C E E H K L M N O R 247 218 240 241 Cate Copbration F Data F 244 2022 2372 245 250 Cute Sipbration Date E 251 2022 2322 30 Acpatient Ja 4803 14 Detober 258 Accecel Ha 257 Cate Fopbration 2022 2322 251 286 267Journal Entries General Ledger Trial Balance C D E E H K L M N R 170 180 Credit 145 2022 186 187 199 190 Account: Slain Loan 191 Cake F 192 2022 193 10 146 195 134 323 03 196 51801 0 197 124311 50 124303 01 146 199 200 701 Account: hamis Empiray Account Ma 2322 October 301 Account: Avcull Spain Acccust Na 200 Duin Credit 210 3432