1 23456 7 8 9 10 S. Roces opened an air conditioning service and repair shop and began business by investing 150,000 cash and the following additional assets: Office Equipments 35,000; Tools 16,000 and Truck 105,000. Paid the rent of the shop 5,000. Purchased 7,200 of repair supplies on credit from A. Fuentes Purchased for cash a new computer 24,500. Paid for newspaper advertising, 15,000. Completed repair work for S.Valdez and received 4,500 cash. Completed repair work for P.Fernando 14,500. Accepted 5,000 and a promise to pay the balance in 30 days Completed repair work for J.Estrada on credit, 12,500. Received 800 from J.Estrada in partial payment of his account. Paid one-half of the account due to A.Fuentes.