Question: Please help me make a journal entry for July 2 and July 19 transactions. please explain the journal entry so i can understand. details are

Please help me make a journal entry for July 2 and July 19 transactions. please explain the journal entry so i can understand. details are below.

Allen Monta opens a Laundry Shop business in Valencia City. The following were the transactions for the first month of operation:

July 2 - Acquired Laundry Equipment costing P75,000, paying cash of P25,000 and issued a

note for the balance.

July 19 - Full payment of Laundry equipment, P25,000.

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