Midterm Exromina to Test III: PROBLEM SOLVING: (30 pts.) Fast & Easy Copy Center was opened by Noah on January 1, 2021 with a cash investment of P 10,000. Additional transactions for the month are as follows:Test III: PROBLEM SOLVING: (30 pts.) Jan 8 Bought office furniture from Bizarre P 5,000. Paid 50% and promised to pay the balance within 30 days 9 Paid Bizarre, P 1,000 14 Collection from account customers, P 2,000 15 Paid Salaries of Typist, P 1,500Test III: PROBLEM SOLVING: (30 pts.) Required: Prepare the following 1. Journalize the Transactions ( 8 pts. ) 2. Post to General Ledger ( 8 pts. ) I 3. Preliminary Trial Balance ( 5pts. ) 4. Statement of Performance ( 3 pts. ) 5. Statement of Equity ( 2 pts. ) 6. Statement of Financial Position ( 4 pts. ) Chart of Accounts: 101 Cash; 102 Accounts Receivable;105 Office Supplies: 106 Equipment; 111 Office Furniture;201 Accounts Payable; 301 Noah's Capital; 302 Noah's Drawing;401 Service Revenue; 501 Salaries Expense; 502 Utilities Expense;503 Rent Expense; 508 Repairs & Maintenance ExpenseTest III: PROBLEM SOLVING: (30 pts.) Jan 2 Noah invested three equipment worth P 18,000 4 Paid P 3,000 as deposit for rental 5 Bought office supplies for cash, P 500 6 Received P 2,000 cash from various students for typing services rendered 7 Rendered typing services on account. P 3,000Test Ill: PROBLEM SOLVING: (30 pts.) Jan 19 Summary of cash received, P 2,000 and a promissory note for P 200 for typing service rendered 20 Paid for telephone, light and water, P 800 25 Paid P 300 for repair of typewriters