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1. Journalize these transactions. Refer to the Chart of Accounts in preparing the journal entries.

2. Prepare a ten-column worksheet (Unadjusted TB, Adjustments, Adjusted TB, Income Statement and Statement of Financial Position). Additional data are provided.

SLIL I AM BDHGIA MERCHANDISING Chart of Account: Account Classication Current Asset Current Asset Current Assetcontra Account Title ICash Accounts Receivable Allowance for Doubtful Accounts Merchandise Inventorsr Prepaid Rent Store Supplies Store Furniture Accumulated DepreciationStore Furniture Accou nt Mum ber Current Asset Current Asset Current Asset NonCurrent Asset NonCurrent Assetcontra Current Liability Current Liability Current Liability Owner's Equity Revenue Cost and Expenses Cost and Expenses-contra Cost and Expenses Cost and Expenses Accounts Payable Salaries Payable Uneamed Sales Sulevman Borgia, Capital II Purchases Purchase Returns and Allowances Utilities Expense Salaries Expense M Cost and Expenses Rent Expense Cost and Expenses Taxes and Licenses Expense Cost and Expenses Cost and Expenses Cost and Expenses Cost and Expenses Store SuppliEs Expense Depreciation ExpenseStore Furniture Doubtful Accounts Expense Miscellaneous Expense Income summer's":r 1 _ On July 1, 2020, Suleyman initially invested P200,000 cash into Suleyman Borgia Merchandising. On the same date, he paid P45,000 for six month's rent on the store space, $10,000 for business licenses and permits, and $50,000 for various store furniture. He also bought $60,000 worth of office supplies with the intention to sell them at a higher price. However, the next day, the business received a $1,500 credit memo for allowance granted on the purchased merchandise. The supplies were bought from Hermogina Villaflor Store Supplies on terms, n/60. On July 6, the business bought from Rodrigo Ranario Supplies Shop $5,000 worth of supplies to be used in the store. Terms: 50% downpayment, balance n/30. Peter, a part time employee, was able to sell on July 12 some of the store's merchandise to Mr. Mano for #16,000 on terms 50% downpayment, balance 2/10, n/30. On July 24, the business sold to Mrs. Ang merchandise for P12,000 on terms 2/10, n/30. On July 30, Ms. Dy paid the business #42,000 for merchandise bought on the same day. Although Ms. Dy already paid for all the merchandise in full, she requested that some merchandise be delivered to her new business address sometime the following month. At the end of the month, the business paid utilities totalling P4,920 and miscellaneous expenses amounting to P2,710