provide Journal entry Cepe A. Ko entered into the following transactions during December 2019:1. Cepe A. Ko invested the following assets:Cash, P100,000Office supplies, P1,500;Store equipment, P10,800.Store Furniture, P22,2002. Paid business permits P3,8002. Paid three months' rent on a lease rental contract, P27,000. One third of the space is use for the office and the rest is for the store.3. Paid the premiums on property and casualty insurance policies, P2,700.5. Purchased additional office equipment on account from Office Station Co., P31,200. Freight of P1,800 was paid by Cepe A. Ko.6. Purchased P100,000 merchandise on account from BSA Co. Terms 2/10 n/30 FOB Shipping point. Freight of P2,000 was paid by BSA Co.7. Sold P20,000 merchandise for cash. FOB Destination. Freight of P1,000 was paid by Cepe A. Ko.8. P6,000 of the merchandise bought from BSA Co. were defective. Debit memo was given to BSA Co. and Credit memo was received in response.10. Paid cash for a newspaper advertisement, P3,525.11. Sold to AT Co. P180,000 merchandise on account Terms 2/10, n/30 FOB Shipping point. Freight of P1,500 was paid by AT Co.12. Paid Office Station Co. for part of the debt incurred on December 5, P7,750.13. Issued credit memo to AT Co. for P4,000 defective goods returned to Cepe A. Ko14. Purchased P100,000 merchandise on account from BSATT Co. Terms 2/10 n/30 FOB Shipping point. Freight of P2,000 was paid by Cepe A. Ko.

The journal entries are prepared to keep the record of daily transactions of the business.

Cepe A. Ko entered into the following transactions during December 2019: 1. Cepe A. Ko invested the following assets: Cash, P100,000 Office supplies, P1,500; Store equipment, P10,800. Store Furniture, P22,200 2. Paid business permits P3,800 2. Paid three months' rent on a lease rental contract, P27,000. One third of the space is use for the office and the rest is for the store. 3. Paid the premiums on property and casualty insurance policies, P2,700. 5. Purchased additional office equipment on account from Office Station Co., P31,200. Freight of P1,800 was paid by Cepe A. Ko. 6. Purchased P100,000 merchandise on account from BSA Co. Terms 2/10 n/30 FOB Shipping point. Freight of P2,000 was paid by BSA 7. Sold P20,000 merchandise for cash. FOB Destination. Freight of P1,000 was paid by Cepe A. Ko. 8. P6,000 of the merchandise bought from BSA Co. were defective. Debit memo was given to BSA Co. and Credit memo was received in 10. Paid cash for a newspaper advertisement, P3,525. 11. Sold to AT Co. P180,000 merchandise on account Terms 2/10, n/30 FOB Shipping point. Freight of P1,500 was paid by AT Co. 12. Paid Office Station Co. for part of the debt incurred on December 5, P7,750.