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A. On June 1, Maya Cruz opened the Ganda Beauty Salon. During the first month, the following selected transactions occurred: 1. Deposited PHP5,000 cash in the City Bank in the name of the business 2. Paid PHP800 cash for beauty supplies 3. Purchased equipment at a cost of PHP12,000 paying PHP2.000 in cash and the balance on account 4. Received PHP1,200 cash for services rendered 5. Paid PHP 500 cash as a salary to a beautician 6. Withdrew PHP 400 cash for personal expenses Direction: Using the given format, identify the effects of above transactions to the accounting equation: ASSETS = LIABILITIES + OWNERS' EQUITY Example: ASSETS = LIABILITIES + OWNERS' EQUITY +200 = + 200 B. Prepare the journal entries to record the following independent transactions with explanations. 1. On Jan 4, 2020, received PHP20,000 from a customer in payment for services rendered. 2. The payment to X Supplier amounts to PHP4,000 for office supplies purchased on Jan 3, 2020. 3. Maria invested PHP60,000 on Jan 18, 2020 to start a barbershop in Iligan City 4. On Jan 5, 2020 paid PHP10,000 rental amount for the month of Jan 2020. 5. On Jan 15, 2020, Pedro withdrew PHP30,000 from his business to pay for the tuition of his son. 6. Collected PHP20,000 of the accounts receivable from Malakas Company on Jan 17, 2020