SamSam Distributors , Ltd. was registered wit Industry as a single proprietorship by the owne The company puesrei so dice invent ofyu sayiset eam ked to jou following transactions , post and foot using balance . A ugl Mr . Jo Uytingco invested cash of P200, 000 i 2 Bought computer equipment for P65, 000 cash. 2 Bought merchandis on account from Bengie Term: 2/ 10, N/ 30. 3 Bought office supplies on cash basis for P 7 4 Sold merchandise on account to SunDelight Terms : 3 / 10 , 2/20, N / 30 . 4 The company paid freight on merchandise sol 6 Returned P500 cost of merchandise to Bengie 1 1 Paid Bengies Supply Co. 13 Collected account from SunDelight Enterpris Bought merchandise on cash basis for P15 , 00 15 Salaries paid , P2 , 600 16 Borrowed money from RCBC Bank P12, 000 17 Received refund from a supplier on cash transaction, P400 18 Bought merchandise on account from ML Enter Terms : 3 / 10, N / 30. 18 The company paid freight on purchase, P700 23 Sold merchandise in cash for P16, 400. 26 Bought merchandise for cash, P13 , 300 27 Made partial payment to ML Enterprises, 10 , partial payment 28 Mr . Uytingco got cash from the company , P24 29 Made refund to cash customers for defective 30 Sold merchandise on account , P14, 800, Term: 30 Paid the following expenses : Advertising P1 , OOO Utilities PI 0 0 Rent P3 , 500 Salaries P1 , 500 Ace It ! Assessment : Directibnad each question and choose the correct your choice in a separate sheet of paper 1 . What type of business generates income fr merchandise? a . service business manufacturing busines