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Required: 1. Prepare a tabular analysis of the transactions above using the following column headings: Cash, Accounts Receivable, Medical Supplies, Furniture and Equipment, Accounts Payable,

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Required: 1. Prepare a tabular analysis of the transactions above using the following column headings: Cash, Accounts Receivable, Medical Supplies, Furniture and Equipment, Accounts Payable, Velo, Capital. Use MS Word, MS Excel. If written, please ensure that this is clear and visible. 2. Determine the balance of each of the accounts. . 3. Using excel/Word or journal sheet, prepare journal entries of each transactions (use accounts in #1). Problem: Mr Velo, a doctor medicine, has decided to form his own medical clinic. The following are the transactions for the first month: A. Mr Velo transferred cash to the business official bank account, P200,000. B. Rent for the month was paid for P20,000. C. Medical supplies were purchased for cash, P4,000. D. The company bought furniture and equipment on account, P40,000 E. Rendered services for cash, P100,000 F. Performed services to a patient on account, P5,000. G. Salary of the reception was paid for P16,000. H. Paid creditors amounting to P15,000. I. Mr Velo withdrew cash amounting to P30,000 for personal use

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