pls answer

Exercise 3: Let us go deeper. In this Activity, your knowledge on the whole accounting process is needed. Please feel free to review your previous activities. And I will give four hours to finish this activity Directions: Prepare the complete accounting cycle of Mr.Kan for the month of January 2020. Use all the information for the preparation below. Mr. Chandler Kan established Tax and Accounting services and had the following transactions for the month of January 2020 Jan 6 Kan Invested P 200,000 into the business Received a charge Invoice from a supplier for the purchase of a desktop computer amounting to P 33,000 on account. The computer is estimated to be useful for five 7 years and have a salvage value of 3,000 thereafter 9 Purchased supplies amounting to P 19,500 in cash. 13 Paid 12.000 insurance for 1 year Issued a service invoice for an amount of P 50,000 to a customer for services 15 rendered on account. 16 Received collections from customers on account, P 40,000 20 Paid P 20,000 as partial payment for purchase of equipment on account 22 Billed P 30,000 to customer for the services rendered 23 Borrowed P 15,000 from the bank 31 Paid P 16,000 for the salaries of employees 31 Kan withdrew P 11,000 from the business 31 Paid the bill of telephone amounting to P 2,500 31 Supplies remaining on hand worth P 12,000 O REDMI NOTE 8 CAI QUAD CAMERA Additional information for adjustment: a. Depreciation of Office Equipment, P 500. b. The unexpired Insurance premium during the month, P 11,000 Use the following Charts of Accounts: Code 101 111 121 131 151 152 Kans Taxes and Accounting Services CHART OF ACCOUNTS ASSETS Code EQUITY Cash 301 Kan , Capital Accounts Receivable 311 Kan Drawing Supplies Prepaid Insurance INCOME Office Equipment 401 Service Revenue Accumulated Depreciation- Office Equipment EXPENSES LIABILITIES 501 Salaries Expense Accounts Payable 511 Supplies Expense Notes Payable 512 Utilities Expense Loans Payable 513 Insurance Expense 514 Depreciation Expense 201 202 211 601 Income and Expense Summary a Prepare the following: Journal entries b. General Ledger c. Unadjusted trial Balance d. Adjusting entries e. Adjusted Trial balance f. Statement of Financial Performance g. Statement of changes in Equity h. Statement of financial Position i. Statement of Cash Flows. j. Closing entries k. Post-Closing Trial Balance .O REDMI NOTE 8 CO AI QUAD CAMERA