II Tirso Trading is a distributor of beauty products. To attract customers it offers its goods on credit terms of 2/10, n/30. The business engaged in the following selected transactions during April:...

Extracted text: II Tirso Trading is a distributor of beauty products. To attract customers it offers its goods on credit terms of 2/10, n/30. The business engaged in the following selected transactions during April: 2020 1 Sold merchandise to David's Salon on account for P8,400, 12% VAT included. 3 Sold merchandise to Jessie Mendez on account, P3, 500, plus 12% VAT. 5 Authorized an allowance of P560, VAT included, to be credited to the account of David's Salon, who reported that merchandise from the sale of April 1 was defective. 6 Sold merchandise for P 2,250, VAT excluded, to Ricky Reyes. Terms: 50% down, balance on account. 8 Record various cash sales for the day amounting to P5,600, VAT included. 10 David's Salon made a partial payment of 50% Apr 12 Received a check from Jessie Mendez for the amount due. 17 Received a check from Ricky Reyes for the amount due. 30 David's Salon isssued a 15-day, 12% note for the overdue account. REQUIRED; ANALYZE AND MAKE THE JOURNAL ENTRIES FOR FOLLOWING TRANSACTIONS