Accounting Cycle for Service Business: WorkbookM.A. PerezJuan Dela Cruz started his accounting office, Juan Dela Cruz, CPA on July 1, 2012. The following are the transactions of his accounting office during its first month of operations: July1Juan Dela Cruz starts his accounting firm by investing P100,000.3Purchased office supplies for cash, P6,750.4Purchased office equipment on account for P62,500.5Paid the monthly rent for a furnished office condominium unit, P12,000.7Received P15,000 for services rendered.9Charged Mr. Alegre a client P12,000 for services rendered.10Received a 60-day, 10% note from Mr. Alegre in settlement of his account.11Charged a client for services rendered, P9,200.13Received P8,000 for services rendered.15Paid employees salaries, P7,800.17Paid half of the account due on the equipment purchased on the fourth.20Collected 50% of the account charged to a client on July 11.22Charged customers P5,000 for services rendered.27Received P12,000 for services rendered.28Paid the monthly telephone bill,P960.31Paid employees salaries, P7,800.31Oscar Ramos withdrew P10,000 for personal use.STEP1: Analyze business transactions. DEBIT-CREDIT ANALYSISSpecific AccountType of AccountIncrease or DecreaseDebit or Credit

Specific AccountType of AccountIncrease or DecreaseDebit or Credit