RJV Products Trading is a trading firm established on May 2,2020 by Mr. ROJAS with an initial Investment of P 15,000 completed the following transactions during the month of May 2020: 2-Purchased merchandise on account from Moonstar. Suppliers, P 8,000-terms: 2/10, n/30, FOB, Shipping Point - P 220. 4-Purchased supplies in cash, P 1,600. 6-Received credit from MOONSTAR Suppliers for merchandise returned, P 200 7 - Sold merchandise on account P 4,400 - terms: 2/10, n/30, FOB Destination-P110. 10-Purchased equipment for P18,000 - terms: 2/10, n/30. 12 - Paid Moonstar Supplier in full. 13 - Purchased merchandise in cash, P 3,700. 14 Received cash loan from RMC Bank on a promissory note of P 15,000. 15-Recelved refund from supplier for poor quality merchandise on cash purchase, P430. 17-Received collections in full from customers billed on May7 18-The owner withdrew P 5,000 cash for his personal use. 18-Purchased merchandise from Grimmer Distributors for P2,500 - terms: 2/10, n/30. 19-Paid freight on May 18 purchase, P 125. 21-The owner withdrew P 3,000 cash for his personal use. 23-Sold merchandise on account, P2,400 - terms: 2/10,n/30. 25-Purchased merchandise from Sunset Enterprises, P2,350 - terms: 2/10, n/30. 28-Paid Grimmer Distributors in full. 29-Sold merchandise for cash, P 5,400. FOB, Destination - P250. 30-Paid the salary amounted, P2,000. 31-Made refunds to cash customers for defective merchandise, P 324