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In its first year of operation, the Mc Cufad Trucking has the following summarized business transactions for the year, 202x : 2. Bought an Isuzu klf track for P500,000. Terms: 50% cash down payment and the halance on six months non-intepest hearing promissory note. truck as collateral. 4. Total trucking services for the year is P1,600,000 ouc of which P600,000 is cash service income and the balance on account. 5 Total collection of accounts receivable, PB50,000. Cash850,000850,000 6. Total nperating expenses is P800,0n0 out of which P50,nOn is still not paid or accoled. 7Paid interest expense for the year to PNB, P10, 000. InterestexpenseCash10,00010,000 Tasks: Using 4 column journals, a. Prepare the joumal entries tor each transaction; b. Post the journal entries to a I account; c. Compute the balance of cach accumat: and d. Prepare the trial halance as of the end of 202x, The Chart of Accounts of Mc Gufad Trucking Use the following account titles in the preparation nt jonimal entries In its first year of operation, the Mc Cufad Trucking has the following summarized business transactions for the year, 202x : 2. Bought an Isuzu klf track for P500,000. Terms: 50% cash down payment and the halance on six months non-intepest hearing promissory note. truck as collateral. 4. Total trucking services for the year is P1,600,000 ouc of which P600,000 is cash service income and the balance on account. 5 Total collection of accounts receivable, PB50,000. Cash850,000850,000 6. Total nperating expenses is P800,0n0 out of which P50,nOn is still not paid or accoled. 7Paid interest expense for the year to PNB, P10, 000. InterestexpenseCash10,00010,000 Tasks: Using 4 column journals, a. Prepare the joumal entries tor each transaction; b. Post the journal entries to a I account; c. Compute the balance of cach accumat: and d. Prepare the trial halance as of the end of 202x, The Chart of Accounts of Mc Gufad Trucking Use the following account titles in the preparation nt jonimal entries