The Fedder Aircon Repair Center had the following transactions for its first month of operation. Record the following transactions in the general journal. These transactions occurred during May 2013. 1 The owner, Fred Dee, invested P350,000 cash and shop equipment worth P50,000 but with fair value of P45,000. 2 Paid rent for 6 months, P60,000. 3 Purchased shop supplies for P10,000 on credit from Avenson Trading 4 Returned P1,200 worth of shop supplies due to wrong specification. 5 Bought a service van from Aspen Motors for P550,000. Terms: 30% down payment, balance payable in 10 equal monthly installments starting May 13. 6 Paid one-year insurance on the service van, P12.250. 7 Bought shop equipment from Kenneth Hardware for P75,500. Terms: 20% down payment, balance on account.