Part 3 - INTENDED LEARNING ACTIVITY - FOR MIDTERM ASSESSMENT NO. 1 - AX COMPUTER SHOP FOR MIDTERM: COMPUTE FOR THE GENERAL JOURNAL AND GENERAL LEDGER PROBLEM: SOLVE Using the above accounting forms. ALL TRANSACTION ARE IN MARCH 1. On March 1, 2014, Mr. AX invested P550,000 to his AX Computer Shop 2. On March 2, the business bought 10 computer units for P200,000 3. On March 3, he deposited P200,000 to BDO. 2 4. On March 4. paid licenses and others, P5.600 5. On March 5, bought furnitures & fixtures, P55,000 6. On March 6, paid ISECO P4,500 for the electrical installations 7. On March 7, paid Globe Telecom, P2,500 for internet connections 8. On March 16, received P4,500 for services rendered (March 10.15) 9. On March 31, received P12,400 for services rendered (March 16-31) 10. Paid salaries of workers, P2,000 Debit Credit 1 1 1 1 1 Account Title Cash in Bank (BDO) Cash on hand Equipment Furnitures and Fixtures Mr. AX, capital Prepaid Expenses Salaries and Wages Service income Utility expenses No. of Entries 1 2 3 4 5 6 7 16 31 1 1 1 1 1 1 1 1 1 1 1 2 2 1,036,500.00 GJ - GRAND TOTAL GL - GRAND TOTAL TB - GRAND TOTAL TB - BALANCES 566,900.00