Illustrative Problem 1: Mr. Jackson Mob opened his business, "LabanderaMOb" Laundry service in the month of January 2018. Jan 8 - Mr. Mob invested P 40,000 cash in the business and laundry equipment...

Extracted text: Illustrative Problem 1: Mr. Jackson Mob opened his business, "LabanderaMOb" Laundry service in the month of January 2018. Jan 8 - Mr. Mob invested P 40,000 cash in the business and laundry equipment amounting to P 340,000. Jan 10 - Paid local business permit in the amount of P 4,000 cash. Jan 12 - Received P 8,000 cash from Mrs. Perla for laundry services. Jan 13 - Received P 5,000 cash from various clients for laundry services. Jan 15 - Purchased Laundry Supplies from Tide detergent Supplies amounting to P 12,000 cash. Jan 15 - Paid utilities in the amount of P 12,000 cash. Jan 18 - Purchased a Laundry Equipment worth P 67,000 from Ajax Laundry Trading on account. Jan 23 - Received P 3,500 cash from a customer for laundry service. Jan 27 - Mr. Moh withdrew P 2,000 cash for personal use. Jan 30 - Paid the rent of laundry shop in the amount of P 7,500 cash. Jan 31 - Paid P 6,000 for salaries of the employees. Required: Make the journal entries, post it to the general ledger and Prepare Trial Balance.