RECORDING TRANSACTIONS IN A FINANCIAL TRANSACTION WORKSHEET Part I. Directions: Record the transactions for the month of December 2021 using a financial transaction worksheet. Use the following accounts: Cash; Accounts Receivable; Office Supplies; Prepaid Insurance; Office Equipment; Professional Library; Accounts Payable; and Uzumaki, Capital. If the owner's equity account is affected by a transaction, identify it as revenue, expense, investment, or withdrawal. Uzumaki Naruto opened his Ninja Academy on Dec. 1, 2021. The following transactions were completed during the month. a. Deposited P 110,000 in the bank in the name of the business. b. Bought office equipment on account from Uchiha Corp., P 147,000. c. Invested his personal library into the business, P57,000. d. Received tuition fees from ninja students, Pl1,700. e. Paid office rent for the month, P7,600. f. Bought office supplies for cash, P8,850. g. Paid premium for a one-year fire insurance policy on the equipment and the library, P1,860. h. Acquired office equipment for cash, P 19,350. i. Received electricity bill, P4,820, no payments made yet. j. Billed tuition fees for ninja students, P24,600, no payments received yet. k. Received and paid bill for the use of internet, P2,280. 1. Paid salaries of two part-time ninja sensei, P9,600. m. Paid car rental expenses, P2,880. n. Paid the electricity bill received earlier. o. Received partial payments from previously billed tuition fees, P21,200. p. Paid Uchiha Corp. a portion of the amount owed for the acquisition of the office equipment recorded earlier, P15,000. q. Naruto withdrew cash for personal use, P20,750.

Wildhorse Corporation sells rock-climbing products and also operates an indoor climbing facility for climbing enthusiasts. During the last part of 2025. Wildhorse had the following transactions related to notes payable Sept. 1 Sept. 30 Oct. 1 Oct. 31 Nov. 1 Nov. 30 Dec. 1 Dec. 31 Issued a $13,200 note to Pippen to purchase inventory. The 3-month note payable bears interest of 9% and is due December 1. (Wildhorse uses a perpetual inventory system) Recorded accrued interest for the Pippen note. Issued a $22,800, 9%, 4-month note to Prime Bank to finance the purchase of a new climbing wall for advanced climbers. The note is due February 1. Recorded accrued interest for the Pippen note and the Prime Bank note. Issued a $24,000 note and paid $7,600 cash to purchase a vehicle to transport clients to nearby climbing sites as part of a new series of climbing classes. This note bears interest of 6% and matures in 12 months. Recorded accrued interest for the Pippen note, the Prime Bank note, and…

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