Transactions for the month of December 2020 are as follows: 1-Dec Rey Millora opened an account with Union Bank under Rey's Laundromat business name in the amount of P1,500,000.  He also invested in a computer worth P100,000 with a fair market value of P90,000.     2 Paid municipal taxes of P5,500 including his license to operate.     5 Bought a P900,000 condominium for his office paying a P500,000 down payment and signing a mortgage with Metro Bank payable in 10 years for the balance.     7 Bought furniture on credit from Furniture World, P45,000.     8 Returned P7,000 worth of furniture bought due to wrong specifications.     9 Bought cash register P24,000 paid in cash.     10 Paid furniture and fixtures purchased on account.     11 Bought P5,600 office supplies paid in cash.     12 Bought a P600,000 van from Jade Motors for use in the business. Terms: 25% cash, 40% thru a 30-day, 10% note, and the balance on the account.     13 Made an additional investment of P500,000 and equipment worth P60,000 with an unpaid balance of P10,000 to Baguio Trading.  The business will assume liability.     14 Returned damaged supplies worth P880.     15 Withdrew P75,000  cash and office supplies worth P500 for personal use.     16 Paid the salary of the office secretary, P7,600.     17 Paid utilities, P1,200.     18 Collected laundry services from various customers, P200,000.      19 Rendered laundry services on account to the following customers: Gabriel - P20,000; Michael - P10,000; Daniel - P8,000; Uriel - P7,000.     20 Paid repairs, P2,000.     30 Collected from laundry services rendered last December 19 from the following customers: Gabriel - P5,000; Michael - P10,000; Daniel - P5,000; Uriel - P4,000.                                               The company's Chart of Accounts follow:               Account Code   Account Title             101     Cash               102     Accounts Receivable             102a     Allowance for Bad Debts           103     Office Supplies                                   201     Office Condominium             201a     Accumulated Depreciation - Office Condominium       202     Equipment             202a     Accumulated Depreciation - Equipment         203     Furniture and Fixtures           203a     Accumulated Depreciation - Furniture and Fixtures       204     Vehicle               204a     Accumulated Depreciation - Vehicle                                 301     Accounts Payable             302     Notes Payable             303     Interest Payable             304     Salaries Payable             305     Mortgage Payable                                   401     Millora, Capital             402     Millora, Personal                                   501     Laundry Service Income                                 601     Bad Debts Expense             602     Depreciation Expense           603     Taxes and Licenses             604     Salaries Expense             605     Utilities Expense             606     Repairs and Maintenance           607     Supplies Expense             608     Interest Expense                                   Requirements:                 1 Journalize the December transactions using a general journal and the         account titles are given in the chart of accounts.                                 2 Post the journal entries to General Ledger.                                 3 Extract the balances of each account in General Ledger and           prepare a trial balance, Accounts Receivable Schedule, and Accounts Payable Schedule.