Question: Can you extend a hand for this? Listed below is a partial trial balance of the Charito Guillermo Retailers at December 31, 2019: Accounts Debit

Can you extend a hand for this?

Listed below is a partial trial balance of the Charito Guillermo Retailers at December 31, 2019: Accounts Debit Credit Merchandise inventory 80,000 Sales 190,000 Sales returns and allowances 20,000 Purchases 60,000 Purchase discounts 3,000 Transportation in 1,000 The merchandise inventory on December 31, 2019 was P74,000. Required: 1. Prepare the adjusting entry. 2. Prepare a partial income statement

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