Quiz 2: Correcting Entries Using a journal, prepare the necessary correcting entries for the following transactions for the month of November 2019. 1 A P1,500 purchase of supplies for cash was recorded as a debit to Office Supplies for P150 and as a credit to Cash for P150. 4 Sammy, the owner, invested an office equipment originally costing P20,000 but with a fair market value of P18,000. The accountant recorded the investment at P25,000. 5 A purchase of a desktop computer on credit for P20,000 was recorded as a debit to Office Equipment for P200,000 and as a credit to Cash for P200,000. 8 Issued a promissory note for P10,000 for cash and recorded it as a debit to Notes Receivable and as a credit to Cash. 12 The collection of a customer's account in the amount of P2,500 was recorded as a debit to Cash for P2,500 and as a credit to Accounts Payable for P2,500. 14 Purchase of repair supplies for P5,000 was recorded as a debit to Repair Equipment and as a credit to Cash. 18 The payment to a creditor for P3,000 was recorded by debiting Accounts Payable for P3,000 and by crediting Accounts Receivable for P3,000. 18 Sammy withdrew supplies worth P780 and recorded it as P870. 21 The return of defective supplies previously purchased for cash was recorded as a debit to Accounts Receivable for P350 and as a credit to Office Supplies for P350. 27 Paid repairs of electrical wiring for P5,000 and recorded it as a debit to Rent Expense and as a credit to Cash