Nov 10 PROBLEM 02: On November 10, 2012, Tuttie Bee Cargo Services started its operations. The following are the transactions for the company for 2012: Mr Tuttie Bee invested P1,000,000 and two trucks with fair market value of P750,000 each in the business. 12 Paid taxes and licenses P6,500 15 Paid office rent up to December in advance, P96,000 16 Hired a driver with P6,000 monthly salary to start work tomorrow 17 18 20 25 29 30 25 Paid driver's salary, P6,000 Dec 37 7 10 15 18 20 22 24 29 30 Called Success Builders to order paints for the office amounting to P2,500 Purchased furniture and fixtures on account, P18,000 Bought Office Supplies, P2,000 cash Delivered cargo to Pampanga for Ms. Sue Bah. Cash of P24,000 was received for this transaction as payment Paid December insurance premium for the two trucks, P10,000 The company received P30,000 from Mr. Tee Wah for delivery services Paid the furniture and fixtures bought on account Bought computer from Octagon on account, P45,000 Delivered cargo to Isabela for Mr. Teh Ngot, P45,000 cash Paid P3,000 utilities Delivered cargo to Nueva Ecija P30,000 cash Proceeds of loan from BOD Bank P200,000 Mr. tuttie Bee withdrew P20,000 for personal use Paid driver's salary P6,000 Received utilities bill for payment on January 5, P3,000