Question: Answer this basic accounting pls and explain. Thank you. Business Transactions: May 1, 2015- The owner invested cash for a fitness gym, P 360,000. May

Answer this basic accounting pls and explain. Thank you.

Answer this basic accounting pls and explain.Answer this basic accounting pls and explain.
Business Transactions: May 1, 2015- The owner invested cash for a fitness gym, P 360,000. May 4, 2015-Purchased supplies on account from Great Fitness Supplies P 60,000. May 8, 2015-Purchased air con Fiesta Appliance Center, P 13,200. Paid 3,200. Balance is on account. May 10, 2015-Paid salary to gym instructor P 9,000 and rent P 10,000. May 13, 2015-Performed services to customers in cash, P 15,000. May 15, 2015-Billed to customer worth P 15,700 and received P 2,700 for the services rendered. May 18, 2015-Paid advertising to GMA Network, P 9,000. May 21, 2015-Paid business permit to BIR P 2,900. May 23, 2015-Collected P 6,000 from customer. May 24, 2015-Withdrew P 1,000 for personal use. May 25, 2015- Paid half payment to Great Fitness Supplies.I. Prepare the following: . Name of company Chart of accounts . Journal Entries . Posting . Trial Balance . Statement of Performance . Statement of Financial Position . Statement of Cash Flows 1 vi i ra 5 is) i 8 ll. Prepare adjusting entries: 1. Dec 31, 2015- Accrued utility amounting to P 5,000. 2. Dec. 31, 2015- To bill customer P 3,000 for the services rendered. 3. Dec. 31, 2015- Bad debts is 2% of accounts receivable. Total collectible is P 15,000

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