Activity # 3.A Instruction: Prepare a simple journal entry with these following transactions. Write your answers in any clean sheet of paper. 1. On March 1, 2010, Mr. Ruel Santos opens a current account with Allied Banking Corporation amounting to P 700,000 to start with his laundry shop business under the trade name Gensan Laundry Services. On March 3, 2010 he purchased laundry supplies for cash, P40,000 from Gaisano Mall. Activity # 3-B 1. For each of the following accounts indicate the effects of (a) a debit and (b) a credit on the accounts and (c) the normal balance of the account. Accounts Payable. Advertising Expense. Service Revenue. Accounts Receivable. A. J. Ritter, Capital. A. J. Ritter, Drawing. 2. Transactions for the Hank Norris Company for the month of June are presented below. Identify the accounts to be debited and credited for each transaction. June 1 Hank Norris invests P5,000 cash in a small welding business of which he is the sole proprietor 2 Purchases equipment on account for P900. 3 P800 cash paid to landlord for June rent. 12 Bills J. Kronsnoble P300 for welding work done on account