The transactions of Rodolfo Santiago for January 2016 were as follows: January 4 Began the business with the following investments: Cash P550,000 Merchandise Inventory 140,000 Furniture & Fixtures 50,000 5 6 6 7 7 Paid rent of P35,000, rent for 5 months. I Purchased a secondhand delivery truck from Ramcar Co. for cash, P205,000. Purchased goods for cash from Light and Sons, P61,600. Sold merchandise to C. Rivera, P15,680. Terms, 2/10,n/30 Paid freight for merchandise sold P2,000. C. Rivera returned P1,120 spoiled merchandise. Mr. Santiago withdrew cash for personal use, P5,000. Collected in full from C. Rivera. Purchased merchandise on account from ABC CO. P30,000. Terms: n/60 FOB shipping point, collect, Freight cost, P2,800. 8 15 16 20 Required: a. Journalize the above transactions and post to the ledger b. Present a trial balance in a 10-12 column worksheet. C. Complete the Worksheet up to Income Statement Column and Balance Sheet column and with the following adjustments: 1. The rent payment of January is P7,000. 2. The second hand truck has a remaining useful life of 3 years or 36 months. For this vehicle, Mr. Santiago wants an accumulated depreciation per month for an easy resale /disposal of this item. 3. Santiago drawings for the month is P50,000 and not P5,000 as earlier recorded. 4. Commission for a salesman, P 50,000 and unrecorded yet in the books. 5. Unrecorded sales for the month P100,000. Sales invoice was given by the salesman to Mr. Santiago's wife who failed to turn-over same to Mr. Santiago. 6. Merchandise inventory of R. Santiago at the end of January is P80,000. d. Complete the Worksheet