The CHEETOS Manufacturing Enterprises started operations in January of 20X4 Each unit of finished product A contains one unit of raw materials X The following are the transactions and items for adjustment which you are required to journalize in a two column journal. July 2 Purchased 500 units of raw materials A at P20 and 1000 units of material B at P30 per piece on account. July 2 Purchased on cash basis 2,000 pcs of raw materials X at P22.00 per piece Purchased also factory supply ABC P10 each, 1,000 pcs in cash July 15 Payroll for the fifteen day period amounted to P200,000 Payroll deductions are SSS P15,000, Medicare P4,000, HDMF P6,000, and BIR withholding amounted to P25,000. Indirect labor included in the P200,000 is P40,000 July 17 Paid Factory real estate taxes, P40,000. July 22 Factory repairs paid P9,000. July 25 Fuel, Water, and telephone bills amounted to P30,000. July 26 Fire insurance paid P25,000, in good for one year from January 1. This amount is to be debited to prepaid insurance July 30 Payroll for the second half the same as the first half July 31 Employer's contribution are Medicare P5,000, SSS P16,000, State insurance and maternity P7,000 and HDMF P4,000. July 31 Depreciation for the month is P50,000 for factory building and P40,000 for machinery. July 31 Work in Process Inventory on Jan 31 is P 90,000. Materials Inventory P120,000, Fished Goods Inventory is P 220,000 July 31 Factory Supplies used P20,000. Aug 10 Remitted to BIR, HDMF and to SSS, the withholdings on payroll. Required: Journal entries to record the transactions