operations. Assets Cash on Hand Accounts Receivable Prepaid Insurance Unused Medical Supplies Fumiture & Fixtures Medical Equipment Ambulance Car Liabilities Accounts Payable Notes Payable The following are completed transactions of Dr, Czar Zion during the first month of its Narrative Transactions: Aug. 1- worth Php 2- 4- 6- 8- 10- 12 13 20 25 29 29 30 31 Chart of Accounts 13 15 Paid salaries of employees. Php 20.000.00 18 Accouns Owner's Equity Dr. Czar Zion, Capital Dr. Czar Zion, Drawing Income Medical Fees Income Expenses Salaries Expense Taxes and Licenses Utilities Expense Gas and Oil Miscellaneous Expense Professional Development Expense Traveling Expense Dr. Czar Zion invested cash amounting to Php2,000,000.00 and Ambulance Car 2,500,000.00 Bought medical equipment on account from Shannon Leigh Medical Equipment Company amounting to Php 650,000.00 paying Php150,000.00 and issued a note for the balance. Purchased Furniture on account worth Php 150,000.00 from Shanne's Furniture Shop. Paid permits and other fees to the city government Php 15,000.00 Bought gasoline from Shell on cash Php 2,500.00 Paid convention fees and registration, Php 18,500.00 Rendered services to various patients, Php 95,000.00 on account. Collected the patients account, Php 95,0000.00 and Attended the medical convention in Manila incurred travelling expenses of Php 15,000.00 Bought medical supplies from Shannon Medz Inc., Php 30,000.00 Paid insurance premium for the Ambulance car, Php 25,000.00 Paid light, water, internet bills, Php 27,000.00. (Utilities Expense). Paid medical subscription magazines, P2,500.00 Medical fees income for two weeks: Cash php 50,000.00 On ccount 120,000.00 Paid taxes and licenses, P20,000.00 Paid in full the account with Shannon Medz Inc. php 30,000.00 REQURED: 1. Journalize the aboved-transactions in the GNERAL Journal (two-column journal) with brief explanation. 2. Post the journal entries to its individual ledger. Use the account files in the Chart of 3. Prepare a Trial Balance. 4. Prepare an Income Statement in good form. 5. Prepare a Statement of Changes in Owner's Equity in good form. 6. Prepare a Balance Sheet in good form. 7. Prepare Closing Entries.