ON July 1 of the current year, Paul Brite started a TV repair business:

1.He invested P50,000 in cash to start his business.

2.Purchased for cash shop supplies worth P3,500.

3.Bright bought repair equipment worth P20,000 on credit.

4.Customers paid P12,000 cash for repair services rendered.

5.Brite made a partial payment to A & G Company. P15,000.

6.Customers were billed on account P14,000 for repair services rendered.

7.Rental for the month of July was paid, P6,000.

8.Collected P8,000 from customers as payment of their account.

9.Paid wages of assistant helper for the month of July, P4,000.

10.Bought additional shop supplies costing P7,500. A down payment of P3,000 was made and the balance is payable at the end of the month.

11.Repair services rendered, P9,000. Received P4,500 as partial payment.

12.Repair supplies bought for cash and used for repairs amounted to P6,500.

13.Brite withdrew P10,000 for personal use.

Required: Prepare journal entry for each transaction