Dr Cr

Cash in Bank P 348,000

Petty Cash Fund 1,000
Accounts receivable 379,000
Subscription receivable 340,000
Prepaid insurance 2,400
Land 200,000
Building 1,800,000
Furniture and fixture 120,000
Office equipment 80,000
Store equipment 100,000
Accounts Payable P 216,000
Authorized capital stock 5,000,000
Unissued capital stock 2,400,000
Subcribed capital stock 400,000
Premium on capital stock 120,000
Sales 1,893,200
Sales returns and allowances 3,000
Purchases 1,257,000
Freight in 18,300
Purchase return and allowances 2,400
Purchase discounts 4,500
Marketing expense 296,000
General and administrative expenses 304,000
12,700
Commision income
Total P 7,648,800 P 7,648,800