Prepare the journal entries for the following transactions:Transaction DateTransactionJune 1, 2020Brawd Feet opened his own management consulting firm, Rapachel Business Consulting. Heinvested a total of Php45,550,000 to the company. The breakdown of his investment are asfollows: cash worth Php40,525,000; 6 computers worth 105,600 each, a server worthPhp695,000; Php1,000,000 worth of chairs and tables; two vehicles worth Php2,500,000 and;Php25,000 worth of office supplies.MondayJune 2, 2020TuesdayRapachel is about to enter into a contract with Elim Realty for an 18-month lease of a 125square meter office located in Ortigas. The monthly rent of the office space is Php17,000. ElimRealty allowed Rapachel to use the office space starting today provided the company pays 18-months of rent in advance on or before June 5 and paying today a non-refundable feeequivalent to 1-month worth of rent.agreement by paying cash to Elim Realty.The company satisfied the non-refundable feeJune 2, 2020TuesdayThe company paid Php6,000 delivery fee to Makrolink Philippines for transporting to the newoffice the furniture's and office equipmentť's invested by Brawd Feet. Brawd also gave thetruck driver and the helper Php500 cash each from his personal savings.The company paid two quarters worth of insurance premium to Stan Ley Insurance Companyfor all its vehicles. The maximum benefit per accident is Php1,000,000 and subject to aPhp10,000 deductible per claim. The annual premium of the insurance purchased per vehicleis Php244,800.June 3, 2020WednesdayJune 4, 2020ThursdayDono Telecommunications, an internet service provider billed the company Php2,500installation fee to be paid at the end of the month. The monthly internet service of thecompany cost Php12,600.The company signed the lease contract today and handed Elim Realty the check required tofully enforce the rental agreement.June 5, 2020FridayThe company performed a 2-hour management consultation to Rightswitch and immediatelycollected Php15,000 cash for every hour of services performed.June 6, 2020SaturdayJune 8, 2020The company purchased and paid in cash an air conditioning unit worth Php124,000 from EngLemeg Appliances to be installed in the reception area of the office.MondayThe company performed consulting to Expat Philippines and immediately billed the client forPhp2,400,000.June 9, 2020TuesdayJune 10, 2020WednesdayThe company expects a surge of clients in Cebu, therefore, the company started to look for anew office space. The company found a new office located in Cebu Business Park forPhp9,900,000. On the same day, the company went to Northwest Bank to apply and submitall its requirements for a loan worth 70% of the total value of the property because thecompany intends to pay 30% in cash upon approval and disbursement of the loan.The company purchased an additional Mac Pro computer from Apple Store worthPhp389,990. The company paid 10% cash and the remainder on account to be paid in 30 days.June 11, 2020ThursdayJune 12, 2020FridayThe Company performed management consulting services to Hush Hush Company. Thecompany immediately collected Php689,500 which represents the 80% of the total contractprice and the remainder to be collected within 60 days.June 13, 2020Because of its growing number of clients, Rapachel decided to hire a new employee, Cassie.Cassie graduated Summa Cum Laude from EYBIESCBN Business School. Cassie signed heremployment contract with the following terms: Php1,500,000 sign in bonus, 50% of whichpaid upon signing the contract and 50% on her 6th month of service to the company with anannual salary and monthly allowance worth Php6,000,000 and Php25,000 respectively.Employees get paid every 20th and 5th of the month. The payroll cutoff is every 15th and 30thof each month. Her first day of work is on June 16.SaturdayNorthwest approved the entire loan request of Rapachel and immediately disbursed the fundto the seller of the office space. The company also paid cash required to fully pay the property.The interest and the maturity of the loan is 5.5% per annum and 10 years, respectively.June 15, 2020Monday

Journal entry refers to the record of a transaction in the books of account as per the double-entry…

Prepare the journal entries for the following transactions: Transaction Date Transaction Brawd Feet opened his own management consulting firm, Rapachel Business Consulting. He invested a total of Php45,550,000 to the company. The breakdown of his investment are as follows: cash worth Php40,525,000; 6 computers worth 105,600 each, a server worth Php695,000; Php1,000,000 worth of chairs and tables; two vehicles worth Php2,500,000 and; Php25,000 worth of office supplies. June 1, 2020 Monday June 2, 2020 Rapachel is about to enter into a contract with Elim Realty for an 18-month lease of a 125 square meter office located in Ortigas. The monthly rent of the office space is Php17,000. Elim Realty allowed Rapachel to use the office space starting today provided the company pays 18- months of rent in advance on or before June 5 and paying today a non-refundable fee equivalent to 1-month worth of rent. The company satisfied the non-refundable fee agreement by paying cash to Elim Realty. Tuesday The company paid Php6,000 delivery fee to Makrolink Philippines for transporting to the new office the furniture's and office equipment's invested by Brawd Feet. Brawd also gave the truck driver and the helper Php500 cash each from his personal savings. June 2, 2020 Tuesday The company paid two quarters worth of insurance premium to Stan Ley Insurance Company for all its vehicles. The maximum benefit per accident is Php1,000,000 and subject to a Php10,000 deductible per claim. The annual premium of the insurance purchased per vehicle is Php244,800. June 3, 2020 Wednesday June 4, 2020 Dono Telecommunications, an internet service provider billed the company Php2,500 installation fee to be paid at the end of the month. The monthly internet service of the Thursday company cost Php12,600. The company signed the lease contract today and handed Elim Realty the check required to fully enforce the rental agreement. June 5, 2020 Friday June 6, 2020 Saturday The company performed a 2-hour management consultation to Rightswitch and immediately collected Php15,000 cash for every hour of services performed. June 8, 2020 The company purchased and paid in cash an air conditioning unit worth Php124,000 from Eng Lemeg Appliances to be installed in the reception area of the office. Monday June 9, 2020 Tuesday The company performed consulting to Expat Philippines and immediately billed the client for Php2,400,000. June 10, 2020 Wednesday The company expects a surge of clients in Cebu, therefore, the company started to look for a new office space. The company found a new office located in Cebu Business Park for Php9,900,000. On the same day, the company went to Northwest Bank to apply and submit all its requirements for a loan worth 70% of the total value of the property because the company intends to pay 30% in cash upon approval and disbursement of the loan. The company purchased an additional Mac Pro computer from Apple Store worth Php389,990. The company paid 10% cash and the remainder on account to be paid in 30 days. June 11, 2020 Thursday The Company performed management consulting services to Hush Hush Company. The company immediately collected Php689,500 which represents the 80% of the total contract price and the remainder to be collected within 60 days. June 12, 202O Friday Because of its growing number of clients, Rapachel decided to hire a new employee, Cassie. Cassie graduated Summa Cum Laude from EYBIESCBN Business School. Cassie signed her employment contract with the following terms: Php1,500,000 sign in bonus, 50% of which paid upon signing the contract and 50% on her 6th month of service to the company with an annual salary and monthly allowance worth Php6,000,000 and Php25,000 respectively. Employees get paid every 20th and 5th of the month. The payroll cutoff is every 15th and 30th of each month. Her first day of work is on June 16. June 13, 2020 Saturday Northwest approved the entire loan request of Rapachel and immediately disbursed the fund to the seller of the office space. The company also paid cash required to fully pay the property. The interest and the maturity of the loan is 5.5% per annum and 10 years, respectively. June 15, 2020 Monday