Journalizing. Posting and Preparing a Trial Balance After several years with a large accounting firm, Virgie Dal decided to establish her own accounting practice. The following transactions of Virgie Dal, CPA, were completed during May 2012: May 2 Transferred P92,500 cash from a personal savings account to a checking account, Virgie Dal, CPA. Acquired office equipment on account from Gicain Furniture, P36,800. Aw Acquired office supplies on account from Lorenzo Office Supply Company, P17,100. 6 Performed accounting services for Cayaco Computer Company and submitted a bill of P29,200 for those services. 7 Paid for accounting and tax books for use in the practice, P19,500. Paid Lorenzo Office Supply Company, P4,100 on account. 10 Acquired a condominium unit for the accounting practice, P265,000. A down payment of P38,000 was made and issued a note payable for the remaining P227,000. 12 Paid salaries, P14,200. 13 Received P9,750 from Cayaco Computer Company, billed on May 6. 16 Paid telephone expense, P650. 19 Received cash In the amount of P14,600 from Ponferada Book Company for accounting services rendered for the month. 22 Acquired office supplies on account from Lorenzo Office Supply Company, P4,650. 23 Withdrew P8,150 for personal use. 25 Paid salaries, P10,300. 26 Billed Bosante Exporters P31,600 for accounting services rendered. 27 Paid PICPA-Tacloban P5,500 for professional dues. 28 Paid P3,250 rent on an office-copying machine.M3 - Problem 2 Required: 1. Prepare the Journal entries for the May transactions. 2. Post the entries to the ledger accounts, using account numbers for cross-reference and using Journal page number 1. The following accounts will be needed: Cash (110); Accounts Receivable (120); Office Supplies (130); Office Condominium (140); Office Equipment (150); Accounting Library (160); Notes Payable (210); Accounts Payable (220); Dal, Capital (310); Dal, Withdrawals (320); Accounting Revenues (410); Salaries Expense (510); Rent Expense (520); Telephone Expense (530) and Professional Dues Expense (540). 3. Prepare a trial balance