Ash Traynor opened a Pokèmon dress shop called PokėShoppe. During the first month of operations, the following transactions were completed. The following account titles are strictly to be used. Cash Unused Supplies Accounts Payable Utilities Expense Permits and Licenses Traynor, Capital Traynor, Drawings Accounts Receivable Prepaid Rent Advances to Employees Shop Tools Sewing Equipment Furniture and Fixtures Salaries Expense Repairs and Maintenance Service Income 2015 Traynor invested the following in the dress shop: Cash, P30,000, a sewing machine appraised at P18,000, shop furniture appraised at P15,000, shop tools appraised at P7,500, an unused supplies Feb. worth P2,500. Paid P18,000 as rent for the leased space for three months. Bought for cash: additional shop tools for P2,500 and supplies for P1,800. Bought from Kakuna Japan Surplus a second hand sewing machine for P6,000. Term: 20 days. Traynor increased her investment by putting in additional cash of P15,000. Delivered the order of Misty Lavahtavah, a customer. Blling price, PS,000. Paid the shop assistant for the one week salary, P3,600. 3 6. 10 11 Cash service income for the week P15,50o. Collected in full the account of Misty Lavahtavah. Paid for the share of the business on the electric and telephone bills, P2,700. 14 Paid the Town Treasurer PS50 for the permits and licenses. Purchased additional shop supplies (buttons, zippers, Velcro, pins, needles, thread, and other sewing accessories), for cash, P1,500. 17 Paid the shop assistant for the one week salary, P3,600. 18 Cash service income for the week, P13,500. 12 14 16 19 Billed Brock Enroll, a customer, for delivered orders, P2,300. 20 Paid PS4o for the repairs and maintenance of the sewing machines. 22 Rework was done on the dress of Brock Enroll, Term: free. 22 Collected in full the account of Brock Enroll. 22 Dawn E. Labadabango, a customer, made an advance payment of P18,000 for various dresses to be delivered until the following month. Credited to Service Income. llo or ougn vio w d eolve 24 Paid the shop assistant for the one week salary, P3,600. Cash service income for the week, P8,700. 25 25 Paid Kakuna Japan Surplus In full. 26 Give the shop assistant a short-term loan of P2,000. Term: 30 days. 27 Traynor brought home some shop supplies worth P1,300, for her personal use. 28 Bought additional furniture worth P6,500 from TeamRocket Depot. Term: 30 days. 28 Billings for newly delivered orders: Brock Enroll for P3,000, Misty Lavahtavah for P1,600. Additional information as of February 28, 2015 are as follows: a. Out of the balance of the shop tools account, 70% is to be treated as an expense. b. Depreciations of Sewing Equipment, with an estimated useful life of 5 years and no residual value, and Furniture and Fixtures, with an estimated useful life of 5 years and no residual value, are computed with the use of the straight line method. For the purpose of computing for the depreciation, the business decided to adopt the following policy: fixed assets acquired n the first half of the month (February 1-14) are depreciated for a full month; fixed assets acquired in the second half of the month are depreciated beginning the following month. C. Accrued expenses at the end of the month: Utilities, P2,700 Salaries, P3,600 d. Prepaid expenses at the end of the period. Rent, ? e. Half of the dresses ordered by Dawn E. Labadabango were already delivered. f. e 5% of the unadjusted balance of accounts receivable is doubtful of collection. Supplies, P2,100 Income earned but not yet collected, P3,700. Required: 1. Journalize the given transactions 2. Post the journal entries in appropriate ledger T-accounts 3. Prepare the trial balance