The following transactions pertain to the operations of Party Consultants, an event planning company owned by Magdalina Solis. The entity had the following transactions during the month:

Received a P180,000 cash investment from the owner.

Provided P400,000 services on account.

Incurred P220,000 operating expenses on account.

Collected P320,000 cash from accounts receivable.

Allowed a P30,000 cash withdrawal to the owner of the business.

Paid P160,000 cash on accounts payable.

Performed services for cash, P30,000.

Paid P12,000 cash for rent.

Required:

journal entries to record the transactions.

T-account for Cash.

statement of cash flows.