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ACT 3.2 Use the file for journalizing and posting the following transactions (40 points): Q:...

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ACT 3.2 Use the file for journalizing and posting the following transactions (40 points): Q: Mr. Roy started his business on 1st January, 2020 with a capital of P100,000 in cash. During the month of January 2020 the following transactions took place: Jan 1 Bought goods for cash 70,000 Jan 22 Telephone bill by cash 500 Jan 2 Sold goods to Steve Co. (Credit) Jan 31 Paid rent by cash 2.000 38,000 Jan 31 Paid salaries by cash 3,000 Jan 15 Sold goods for cash 9,000 Jan 31 Withdrew cash personal use 5,000 Jan 21 Steve Co. paid by cheque 35,000 Jan 22 Stationery bill paid by cheque 2,000

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