8. Incurred the following operating expenses Account Advertising Expense Salaries Expense - Cashier Taxes and Licenses Insurance Expense Supplies Expense Uncollectible Account Remarks Amount P 20,000...

Extracted text: 8. Incurred the following operating expenses Account Advertising Expense Salaries Expense - Cashier Taxes and Licenses Insurance Expense Supplies Expense Uncollectible Account Remarks Amount P 20,000 Unnaid 15,000 Unpaid 8,000 Unpaid 5,000 Expired portion of Prepaid Insurance of Store Building 6,000 Expired/Used Portion of Unused Supplies Inventory 9,000 Based on estimated amount uncollectible from outstanding Accounts Receivable 9. Depreciation of store building, P11,300; Depreciation of office furniture and fixtures, P10,700. 10. Factory overhead is applied based on direct labor cost. Last year, the Labor cost was P90,000 which resulted to factory overhead cost of P58,500. There is an assumption of the rate to be constant for the next 5 years. 11. Jobs 104, and 105 were completed and transferred to finished goods warehouse. 12. Job 102 was sold and billed at a gross profit of 35% of the cost. 13. Job 104 was sold and billed for P90,000. 14. Liabilities of P200,000 was paid which includes accounts payable and accrued payroll. 15. Cash collections from customers were P80,000. Requirements: A. Journal Entries to record the above transactions. B. Schedule of Cost of Goods Manufactured and Sold. C. Income Statement