Nick Elodeon established HBO Link Data Encoder on May 20CY. The following transactions occurred during the month: May 1-Mr. Elodeon invested P250,000 into his business. 1-Rented office space and paid two months rent in advance, P8,000. 2-Issued a promissory notes for a P210,000 loan from the BANK Savings Bank. 4-Acquire service vehicle for P420,000. 4-Paid P14,400 for a one-year comprehensive insurance coverage on the service vehicle. 5-Acquire office equipment P60,000; paying P15,000 in cash and the balance next month. 8-Purchase supplies on credit for P18,000. 9-Paid merchandising P10,000 of the amount owed. 10-Collected P8,800 fees for service rendered. 13-Paid salaries, P6,600. 15-Received cash payment in advance from the client, P10,000. 19-Received from three clients, P12,000 per client for service rendered. 25-Withdrew P14,000 for personal expenses. 27-Paid salaries, P7,200. 30-Received telephone bill, P1,400. 30-Received P24,000 from two clients for service billed last May 19. 31-Settle the electricity bill of P3,000 for the month. if you want you can also balance it