Choices are at the bottom.
1. Determined that the cost of supplies on hand was P1,440 so P4,560 of supplies were used during the month.
2. Owner withdrew cash for personal use, P20,000.
3. Billed customers for delivery services on account, P55,200.
4. Paid creditors on account. P20,000.
5. Paid advertising expense, P5,000.
6. Cash received from delivery services. P92,700.
7. Received cash from customers on account, P25,440.
8. Paid rent for July, P20,000.

A. decrease an asset, decrease owner’s equity
B. increase an asset, increase a liability
C. decrease an asset, decrease a liability
D. increase an asset, decrease another asset
E. increase an asset, increase owner’s equity