ANSWER IT ALL ASAP ASAP

The following are taken from the records of ABC Company for the year ended December 31, 20X2: Debit Credit P764,985 8,200 5,465 Sales Purchase discount Purchase returns and allowances Purchases Freight-in Sales discount Sales returns and allowances Depreciation expense Amortization expense Salaries expense Utilities expense Advertising expense Rent expense Interest income Interest expense Gain on sale of PPE Bad debts expense 459,990 9,180 13,300 5,455 25,000 10,000 80,000 55,000 35,000 60,000 5,444 5,677 5,465 ??? Based on actual physical count, inventory balance are as follows: January 1, 20X2 P25,455 December 31, 20X2 P20,765 Bad debts expense is 4% of net sales. Classify the bad debt expense as a general and administrative expense. 1. Determine the following: a. Net sales b. Net purchases Chapter 2: Statement of Comprehensive Income 55 c. d. 2. a. Cost of goods sold Bad debts expense Prepare a nature of expense SCI. 3. Prepare a function of expense SCI. Additional information: Depreciation of P5,000 is for computer equipment used in the administrative office b. Amortization is attributed to office leasehold improvements. 40% of salaries are attributed to sales personnel. d. Utilities for the store represent 35% of utilities expense. e Rent for the office space is P20,000. c