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Problem 1234567 co 8 01-Dec Lerma Salvador Invested P120,000 to start an accounting practice. 02-Dec Paid monthly office rent, P7,000 03-Dec Paid for HP

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Problem 1234567 co 8 01-Dec Lerma Salvador Invested P120,000 to start an accounting practice. 02-Dec Paid monthly office rent, P7,000 03-Dec Paid for HP computer, P25,000. The computer is expected to remain in service for 5 06-Dec Purchase office equipment, P6,000. The furniture should last 5 years 08-Dec Purchased office supplies on account, P2,000 09-Dec Performed tax service for a client and received cash for the full amount of P10,000. 22-Dec Paid utility expenses, P3,000. 25-Dec Performed consulting service for a client on account, P17,000. Required Post the transaction in the T-accounts. Key all items by date, and denote an account balance. Prepare a trial balance at December 25, 2021.

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