Instruction: 1.) Identify the transaction, 2.) accounts involved, 3.) analysis of transaction and 4.) journal entries for the transactions below.
Jan 3 20XX – Ms. D invested P300,000 to start a retail business.
Jan 5 - Purchased Merchandise Inventory for cash amounting P50,000
Jan 7 - Sold Merchandise costing P20,000 to Ms. G for a price of P50,000 in cash.
Jan 10 - Sold Merchandise costing P10,000 to Ms. H for a price of P20,000 in cash.
Jan 15 - Sold Merchandise costing P10,000 to Ms. Z for a price of P50,000 on account.
(I'm in a hurry help me pls)
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