CLASS EXERCISE – recording of transactions (Balance Sheet Accounts) Mr. Zee started a Grocery store on March 1, 2020. The following transactions occurred during the month: Mar 1, Zee invested P 100,000 cash, Office Furnitures @ P 50,000 Office Equipment amounting to P 30,000. Mar 3, Zee borrowed P 300,000 cash from Banco de Oro to expand his business Mar 9, Zee bought Groceries for sale amounting to P150,000 Mar 16, Zee bought additional Office Furnitures on account from Woody Supply @ P 50,000, with 30 day term, but if paid within 15 days, a 2% discount will be applied. CLASS EXERCISE – recording of transactions (Balance Sheet Accounts) Mar 30, Zee withdraw cash to buy his own personal hygiene kit amounting to P 5,000 Mar 31, Zee paid Woody supply in full.

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