PROBLEM SOLVING: MERCHANDISING PROBLEM (PERIODIC INVENTORY SYSTEM)

April 1, 2017 The business ACE DISTRIBUTORS was registered as single proprietorship with the Department of Trade and Industry, Jane Lopez invested P 39,000 Bought computer equipment for P 10, 000 cash 2 GACN Bought merchandise on account from HIGHTOWN Supply Co. P 15, 900 terms: 2/10, n/30 Bought office supplies on cash basis for P 700 Sold merchandise on account P 15, 200. FOB Destination terms: 2/10, n/30 Paid P-200 freight on April 4 sales. Received credit memo from HIGHTOWN Supply Co. for merchandise returned P 300. Paid HIGHTOWN Supply Co. Collected from April 4 customers. Bought merchandise on cash basis for P 14, 400. 29N@RRENRR8SS Paid Salaries P 1, 500. Borrowed money from PS Bank signed a promissory note for P 12, 000. Received refund from Supplier on cash purchase of April 14, P 500. Bought merchandise from LERMA P 14, 200 FOB Shipping point terms: 2/10, n/30. Paid freight on April 18 purchase, P 700. Sold merchandise for P 16,400. Bought merchandise for cash P 12, 300. Paid LERMA on the April 18 purchase, P 9, 000. No discount allowed on partial payment. J. Lopez got cash from the business, P 2008 Made refund to cash customers for defective merchandise P 900. Sold merchandise on account, P 13, 700, n/30. Paid the following: Advertising P 1, 000; Utilities P 400; Rent P3, 500; Salaries P 1,500. Inventory April 30, P 25, 000.

Chart of Accounts: 101 Cash, 105 Accounts Receivable, 115 Merchandise Inventory, 120 Supplies, 150 Equipment, 201 Accounts Payable, 202 Notes Payable, 301 Lopez Capital, 302 Lopez Drawings, 401 Sales, 405 Sales Returns & Allowances, 410 Sales Discount, 501 Purchases, 502 Purchases Returns and Allowances, 503 Purchase Discounts, 504 Freight In, 505 Advertising Expense, 510, Rent Expense, 530 Salaries Expense 540 Utilities Expense, 550 Freight Out, 601 Income Summary

Please help me provide below the ff. problem

1. Journal Entries 2. Ledger 3. Trial Balance 4. Statement of Cost of Goods Sold 5. Statement of Performance 6. Statement of Equity 7. Statement of Financial Position 8. Statement of Cash Flows 9. Closing Entries 10. Post- Closing Trial Balance