Present using Tabular Format;

The following transactions occurred in

1. Company sold merchandise worth P30,000 at 100% margin. The customer paid in cash.

2. Company sold, on credit, merchandise worth P60,000 for P105,000.

3. Company bought merchandise worth P50,000 paying 25% in cash and the remainder under credit.

4. Company recorded salaries expense amounting to P25,000 in 2022. All but 10% remain unpaid as of year-end.

5. The accrued expenses as of end-2021 pertains to unpaid utilities. The entire amount was subsquently paid in 2022.

6. The prepaid asset pertains to a three-year insurance policy covering 2022,2023 and 2024. P10,000 for the insurance coverage in 2022 was recognized as expense

7. The entity took out a four-year loan in 2021 payable in equal annual installments of P80,000. The short-term portion recorded as of end-2021 was fully paid in 2022.

8. Corresponding interest payment amounting to P6,000 was also made. (Hint: In preparing the balance sheet, recognize and present separately the portion of the loan maturing within the next months as current.

8. The building and equipment recorded depreciation of P120,000 and P24,640 during the year.

9. Companv collected P225,000 of accounts receivable and paid P58,000 of accounts Davable