234 567 08 Ccount name should appear. Account Name Dr or Cr BS/SFP or IS e.g. Cash 1. Dividend income Cash overdraft BS/SFP Merchandise inventory Prepaid supplies Unearned rent income Adan, Drawings...

Extracted text: 234 567 08 Ccount name should appear. Account Name Dr or Cr BS/SFP or IS e.g. Cash 1. Dividend income Cash overdraft BS/SFP Merchandise inventory Prepaid supplies Unearned rent income Adan, Drawings Purchases Sales 9. Sales Discounts Cost of Sales 10 • Source: Ferrer R.C. et.al. (2017). Fundamentals of Accountancy, Business and Management part 1, Bandolin Enterprise, (Publishing and Printing) Bakakeng Sur, Baguio City II. Using T- account analysis: Compute for the ending balance or carrying amount of the following: Cash, Accounts Receivable, Building, Equipment, Notes Payable Lucas has the foilowing balances on his book: Cash P50,000 Accumulative Depreciation-Building Account Receivable 200,000 Accumulative Depreciation-Building Notes Payable 100,000 Building Equipment Cash collections Cash payment Allowance for bad debts Source: Ferer R.C. et.al. (2017). Fundamentals of AACcountancy, Business and Management part 1, Bandolin Enterprise, (Publishing and Printing) Bakakeng Sur, Baguio City III. Crítical Thinking. Rubrics in Checking Essays: Content = 30%, Understanding/Application = 25%, Original Thinking = 25%, Structure = 10% and Grammar = 10%. %3D 1. Why do we nieed to use Journal and Ledger in recording business transactions? Explain. (10 points)