Journalize each transactions correctly.

Record under the periodic inventory method the following selected transactions in 2022 of Arex Trading. The rm has been operating with success for 2 years now. May 2022 1 Vince Corazon, owner, made additional investment as follows: merchandise, P850,000; cash, P180,000; store supplies, P25,000; and office supplies, P10,000. 3 Sold merchandise to Chris for P180,000 less 10-5 on terms: 20% down and the balance 3/10 2/20 n/30. Paid freight of P3,240. 5 Paid in advance one-year insurance premium for P75,000 and P2,250 for the minor repair of one printer. The firm uses asset accounts in recording advance payments. 6 Received debit memo from Chris for damaged merchandise returned, P3,120. 9 Sold merchandise to Debby for P150,000 less 10-10, receiving a 30-day 16% note for the invoice price. Paid freight of P1250. 11 Bought store supplies from ABC Merchandising for P85,000 less 10 on terms 3/15 n/30. Paid freight of P4,300. 13 Collected 25% of the outstanding balance of Chris' account. 14 Returned defective store supplies to ABC Merchandising, P2,500. 18 Bought merchandise from Bright for P120,000 less 5-5 on terms 3/10 2/20 n/30. Paid freight of P5,200. 21 Obtained a loan from BPI for P150,000, issuing a 40-day 15% note. 22 Issued debit memo to Bright for the return of merchandise with wrong specication, P2,500. 23 Collected in full the account of Chris. 26 Paid in full account with ABC Merchandising. June 2022 1 Paid sixth-month rent. Rent per month is P12,500. 3 Vince Corazon made a permanent cash withdrawal of P250,000. 7 Paid in full account with Bright. 8 Collected the note that matures today. 10 Paid Meralco billing for the month, P16,920. 20 Vince Corazon withdrew the following for personal use: cash, P10,000; store supplies, P5,000 and merchandise worth P6,650. 23 Received P20,000 from one of the customers representing advance payment for future delivery of merchandise. 26 Paid the cost of ofcial travel of Vince Corazon, P15,3 60. 30 7 Paid the note that matures today