Problem 01.

Ethan Will opened Amazing Cleaning Services on August 1, 2017. During July, the company completed
the following transactions.

August

1 Ethan Will invested P42,000 cash and 5,800 of cleaning equipment in the business.

1 Purchased a used truck for 12,000, paying 3,500 cash and the balance on account.

3 Purchased cleaning supplies for 1,375 on account.

5 Paid 1,800 on one-year insurance policy, effective August 1.

12 Billed customers 4,892 for cleaning services.

18 Paid 1,500 of amount