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Jeff Obenosky started Clearview Cable TV Service and during the first month of operations completed the following selected transactions: a. Jeff began the business with an investment of P150,000 cash and a building valued at P500, 000. b. Borrowed P250,000 from the bank and signed a note payable. C. Paid P320,000 for transmitting equipment d. Purchased office supplies on account, P4000 e. Paid employee salary P13,000 f. Received P5,000 for cable TV service performed for customers. g. Sold cable service to customers on account, P23,000 h. Paid P1, 000 of the account payable created in transaction d. i. Received a P6000 bill for utility expense that will be paid in the near future. j. Received cash on account P11, 000. k. Paid the following cash expenses: (1) Rent on land P10.000 (2) Advertising P8000 1. Withdrew P26,000 for personal use. Required: (1) Record the following transactions by showing the effect of each transactions on the accounting equation. (2) Prepare the Income Statement and Balance Sheet