On October $10$ of the current year, Berenice Sia established an interior

decorating business. Bersia Designs. During the remainder of the month.

Bernice completed the following transactions related to the business.

October

$10$ Transferred cash from a personal bank account to an

account to be used for the business, P $120,000$

$10$ Paid rent for the month of October, $P8,000$

$11$ Purchased a multicab for $P150,000,$ paying $P50,000$ cash

and issued a note for the balance

$12$ Purchased equipment on account P $31,000$

$14$ Purchased supplies for cash, P$4,300$

$15$ Paid annual premiums on property and casualty insurance, $P$

$3,200$

$21$ Paid creditor for equipment purchased on October $12$

$24$ Recorded jobs completed on account and sent invoices to

Customers, P $25,000$

$26$ Paid utilities expense, $P3,600$

$28$ Paid miscellaneous expenses, P $950.$

$29$ Received cash from customers on account, $P20,000$

$30$ Paid the payroll for the month, P $18,000$

$31$ Withdrew cash for personal use, $P12,000$

Required

Journalized each transaction with explanation a $2-$column journal,

referring to the following chart of accounts in selecting the

accounts to be debited and credited.

$11$ Cash

$12$ Accounts Receivable

$13$ Supplies

$14$ Prepaid Insurance

$16$ Equipment

$18$ Service Vehicle

$21$ Notes Payable

$22$ Accounts Payable

$31$ Berenice Sia, Capital

$32$ Berenice Sia, Drawing

$41$ Fees Earned Expense

$51$ Wages Expense

$53$ Rent Expense

$54$ Utilities Expense

$59$ Miscellaneous Expense

Post the journal to a ledger

Prepare a trial bal ance for Bersia Designs as of October $31$ of the

current year.

Prepare the $3$ Financial Statements