(Note: Please refer to the above Journal entries, General ledger Posting and Trial balance to make ADJUSTING ENTRIES, FINANCIAL STATEMENT AND CLOSING ENTRIES)

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REQUIRED: Using the table format below, prepare JOURNAL ENTRIES for the above transactions Date Description/Account Title Debit Credit Jan 1 Cash 250.000 Medical Equipment 500.000 Capital 750.000 Feb 28 furniture | 150.0001 Date Description/Account Title Accounis povable March Medical Supplies Cash April 7 cash Accounts Receivable 3010x Fees May 31 Prepaid Insurance Loan Payable June 30 salaries' Expense Cash July 17 casn Accounts Receivable Liposuction Fees Aug 911 Casa Advances from Customer Sep 10 Medical supohos Drawings Accounts Receivable Dec 29 Utilities Expense Rent El pense Cash Debit Credit 150.000 125.000 1125,000 219.000 1395.000 120.000 180.000 180.000 120,000 120.000 295.000 1230,000 525.000 100.000 100 000 15.000 15.000 99.500 39.500 50.000 60.0001 110,000 REQUIRED: Using the T-Accounts below, prepare General ledger POSTING for the above transactions and the corresponding TRIAL BALANCE (dated December 31) LEDGER POSTING (Add T-accounts for additional account title/s if necessary) ASSETS: Cash Accounts Receivabe Jan 1 250,000 March 125.000 Apr 1 345,001 OCH 9 39,500 Apr 7 215,000 Jun 30 120,000 Joly 17 250.000 July 17 295,000 Dec 29 110,000 Aug 31 100 000 Bal -585,500 Oci 5 39,500 Bal. 544, 500 Medical Supplies Prepaid Insurance Mar 5 125,000 May 31 180.000 Sep 20 19.000 fal. 140,000 bol. 180.000 Furniture Feb 28 150,000 Medical Equipment Jani 500.co bal. 150.000 Bal. 500.000 LIABILITIES: Accounts Payable Feb 2! 150.000 Advances from Customers Aug 31 100,000 Bal. 190,000 Bal. 100.000 Loans Payable May 31 130,000 Sal 180,000 OWNERS' EQUITY: Capital jan 1 750,000 Drawing SEP 20 15.000 Bar 15.000 Bal. 750,000 Botox Fees Apr 7 C10,000 Liposuction Fees July 17 525,000 BOU 525,000 Bal G10,000 Salary Expense Jun 30 120,000 B01 120 cod Utility Expense Dec 24 50 000 Bal 50,000 Rent Expense Dec 24 Go,cod Bal 60.000 TRIAL BALANCE (Insert additional account title if necessary) Batang Bata Clinic Trial Balance December 31 2018 Credit Debit p. 544,00.0 585,500 140.000 180.000 150,000 500.000 Account Title Cash Accounts Receivable Medical Supplies Prepaid Insurance Furniture Medical Equipment Accounts Payable Advances from Customers Loans Payable Capital Drawing Botox Fees Liposuction Fees Salary Expense Utility Expense Rent Expense TOTAL P 190.000 100.000 180.000 750,000 15.000 610,000 525,000 120.000 50.000 60000 | P2,830,000 P 2,390,000 ASSIGNMENT 03 NAME: DATE: Dr. Barbi Baldoza, a cosmetic surgeon, opened Batang Bata Clinic specializing in slimming, facial and skin treatment in Recto Manila. The following are the transactions for 2018 the first year of operation: January 1 Barbi invested P250,000 cash, P500,000 medical equipment. February 28 Bought furniture on account, costing P150,000 from Furniture World. March 5 Bought for cash, medical supplies worth P125,000 April 7 A summary of botox treatments rendered showed: cash patients, P215,000; on account customers, P395,000. May 31 Received P180,000 proceeds from a bank loan payable on January 31, 2019 and paid with it a two-year insurance starting 2019 for the clinic. June 30 Paid salaries of nurse and secretary, P120,000 July 17 A summary of liposuction treatments rendered showed: cash customers, P280,000; on account customers, P245,000 of which P15,000 were collected. August 31 Received P100,000 advance payment from a patient facial treatment. September 20 Barbi took P15,000 worth of medical supplies for personal use. October 5 Collected 10% of balance owed by the botox-treated customers. December 29 Paid for rent P110,000 which included the use of power and water amounting to P 50,000 Additional information: At the end of the period (December 31) 1. The remaining medical supplies unused amounted to P50,000 2. Depreciation of Medical Equipment and Furniture for the period amounted to 10% 3. 5% of receivable is estimated to be uncollectible Requirement: Using the format below, prepare ADJUSTING ENTRIES, FINANCIAL STATEMENTS and CLOSING ENTRIES Adjusting entries: Date Description/Account Title Debit Credit Financial Statements a. Statement of Comprehensive Income / Income Statement b. Statement of Changes in Equity / Capital Statement c. Statement of Financial Position / Balance Sheet d. Statement of Cash Flow Closing entries: Date Description/Account Title Debit Credit