Documents required:

1. General Ledger (Use two column journal sheet)
2. General Ledger (Use T-account)
3. Trial Balance to be written in a one (1) sheet of journal

REQUIRED

1. Journalize the following transaction in a separate Journal Sheets.
2. Post the following transaction in a ledger
3. Prepare Trial Balance
4. Prepare All adjusting entries

Mr. Tiger Astig started a laundry business called "Tiga Laba Laundry Shop" on January 1, 2018. The following Jan 1 were the transactions during the first month of operations: Jan 1 Provided P500,000 initial investment where P50,000 was Supplies and the balance was Cash. Jan 1 Acquired washing machine worth P200,000. Paid P50,000 and the balance on account. Jan 1 Acquired Dryer Machine for P100,000. Issued a notes that carries a 12% interest per year. Jan 2 Acquired a loan from a Bank for P100,000, 16%, payable in 4 years. Hired an employee for a salary of P5,000 per month, paid every 15" and end of the month. Jan 3 Paid rent for 2 years dated January 1, P12,000. The amount was debited to Rent Expense. Jan 4 Billed client for services rendered, P50,000. Jan 6 Purchase supplies for P20,000 cash and debited the Supplies Account. Jan 7 Purchased office supplies for P12,000 to be use evenly throughout the year. Jan 8 Rendered Laundry Services for P50,000; P5,000 cash and the balance on account. Jan 9 Collected P10,000 from a customer in advance for future services. This amount was credited to Laundry Service Revenue. Jan 10 Paid the balance on the washing machine. Jan 11 Received P30,000 from clients for services rendered. Jan 12 Ordered laundry supplies of P5,000. Jan 13 Scheduled a maintenance work for the washing machine on January 28. Jan 15 Paid P2.500 to an employee. Jan 16 Hired another employee for a salary of P6,000. Jan 18 Paid P1,000 for fliers, brochure and other print ads. Jan 20 Collected P40,000 from clients accounts. Jan 21 Purchased cleaning supplies for cash, P2,500. Jan 22 Purchased the supplies ordered in January 12 on account. Jan 25 Paid for utilities, P500. Jan 28 The maintenance work was performed for P15,000. Jan 30 Mr. Tiger withdraw P5,000 worth of supplies. Jan 31 Paid P12,000 for a one-year insurance. At the end of the month you ascertain the following: 1. Unused supplies amounted to P55,000. 2. Laundry service revenues earned but not yet recorded amounted to P15,000. 3. Customers' advanced payment amounting to P8,000 was earned. 4. Unrecorded accrued salaries amounts to P2,500. 5. Received bill for the water utilities due on February 10, 2018 amounting to P500. 6. The washing machine and the dryer had a useful life of 5 years with zero residual value. 7. Astig estimates that 1% of the outstanding Accounts receivable is doubtful of collection. 8. Used cleaning supplies amounted to P750.CHART OF ACCOUNTS 110 Cash 120 Accounts Receivables 121 Allowance for Doubtful Accounts 1 30 Supplies 131 Cleaning Supplies 132 Office Supplies 140 Washing Machine 141 Accumulated Depreciation - Washing Machine 150 Dryer Machine 151 Accumulated Depreciation - Dryer Machine 160 Prepaid Rent 170 Prepaid Insurance 210 Accounts Payable 220 Notes Payable 221 Interest Payable 230 Unearned Laundry Service Revenue 240 Salaries Payable 250 Loans Payable 310 Tiger Capital 320 Tiger. Drawing 410 Laundry Service Revenue 510 Depreciation Expense - Washing Machine 510 Depreciation Expense - Dryer Machine 520 Supplies Expense 521 Cleaning Supplies Expense 522 Office Supplies Expense 530 Salaries Expense 540 Advertising Experise 550 Interest Expense 560 Doubtful Accounts Expense 570 Utilities Expense 580 Rent Expense 590 Insurance Expense 591 Repairs Expense REQUIRED: I. Journalized the following transaction in a separate Journal Sheets. 2. Post the following transaction in a ledger. (you may use T-accounts, Yellow sheet of paper) 3. Prepare a Trial Balance 4. Prepare all the adjusting entries