10. 1 5 Dr. Ignacio made a cash investment of P150,000 to open a clinic at...

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10. 1 5 Dr. Ignacio made a cash investment of P150,000 to open a clinic at Horizon Plaza. Purchased medical equipment from Rivera Medical Supplies for P90,000. Terms: 50% cash, balance payable in two installments, with first due at the end of the month. Purchased supplies for P17,850 and paid cash. 10 12 Bought office equipment from Delta Equipment P15,000 on credit. 15 Dr. Ignacio opened her Skin Care Clinic at Horizon Plaza with the transactions for the month of March. 29 30 31 Professional Care Fees of P65,000 represented total fees earned. Only P50,000were received in cash, the balance is due from Mr. Mateo P6,000 and Ms. Myrasol P9,000. Paid Delta Equipment one third of the outstanding account. 19 20 Utility expenses paid, P18,500. 25 Payments of P25,000 were made for: rent, P15,000 and advertising, P10,000. 27 Professional care fees earned and collected amounted to P45,000 including one third of Ms. Myrasol's account. The first installment on the medical equipment bought was paid in cash. Salaries of a nurse and medical intern were paid in cash, P36,000. Summary of collections in cash amounted to P30,000 including one half of Mr. Mateo's Account. 31 Supplies used, P13,500. Required: a.) Prepare a Chart of Accounts: Current Assets start with 101, Plant and Equipment start with 201, Current Liabilities start with 301, Owner's Equity start with 501, Revenues601 and Expenses start with 701. b.) Journalize using a two column journal. c.) Open the general ledger, make postings and extract the balances. d.) Prepare a trial balance. 11. Using the journal entries prepared in no. 10, do the following: Open two customer's cards, make postings, and prepare a schedule of accounts receivable. Refer to your general ledger Accounts Receivable. Did the balance tally with the balances of the accounts receivable ledgers you prepared here in no.11? 10. 1 5 Dr. Ignacio made a cash investment of P150,000 to open a clinic at Horizon Plaza. Purchased medical equipment from Rivera Medical Supplies for P90,000. Terms: 50% cash, balance payable in two installments, with first due at the end of the month. Purchased supplies for P17,850 and paid cash. 10 12 Bought office equipment from Delta Equipment P15,000 on credit. 15 Dr. Ignacio opened her Skin Care Clinic at Horizon Plaza with the transactions for the month of March. 29 30 31 Professional Care Fees of P65,000 represented total fees earned. Only P50,000were received in cash, the balance is due from Mr. Mateo P6,000 and Ms. Myrasol P9,000. Paid Delta Equipment one third of the outstanding account. 19 20 Utility expenses paid, P18,500. 25 Payments of P25,000 were made for: rent, P15,000 and advertising, P10,000. 27 Professional care fees earned and collected amounted to P45,000 including one third of Ms. Myrasol's account. The first installment on the medical equipment bought was paid in cash. Salaries of a nurse and medical intern were paid in cash, P36,000. Summary of collections in cash amounted to P30,000 including one half of Mr. Mateo's Account. 31 Supplies used, P13,500. Required: a.) Prepare a Chart of Accounts: Current Assets start with 101, Plant and Equipment start with 201, Current Liabilities start with 301, Owner's Equity start with 501, Revenues601 and Expenses start with 701. b.) Journalize using a two column journal. c.) Open the general ledger, make postings and extract the balances. d.) Prepare a trial balance. 11. Using the journal entries prepared in no. 10, do the following: Open two customer's cards, make postings, and prepare a schedule of accounts receivable. Refer to your general ledger Accounts Receivable. Did the balance tally with the balances of the accounts receivable ledgers you prepared here in no.11?