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Determine the accounts debited and credited on the following transactions: (Use Separate Sheet of Paper) Transactions 1. Bought merchandise for cash from Orbesido Superstore,
Determine the accounts debited and credited on the following transactions: (Use Separate Sheet of Paper) Transactions 1. Bought merchandise for cash from Orbesido Superstore, P20,000 2. Paid freight on merchandise purchased 15.000. 3. Bought merchandise on account From J. Matuguinas Co. costing P25,000 4. Returned P2,000 cost of merchandise to J. Matuguinas Co. 5. Paid the account with J. Matuguinas Co. and availed a 2% discount 6. Sold merchandise on account to D. Pateo CP30,000. Actual cost of merchandise SOIU, 0,000 7. Paid freight on merchandise sold to D. Pateo Co., P1,000 8. Received P2,000 worth of merchandise returned by D. Pateo Co.. Actual cost of merchandise returned was P1,500. 9. Collected the account of D. Pateo Co. and give a 3% discount. 10. Sold merchandise on cash, P6,000 and gave a 5% trade discount. Actual cost of merchandise sold, P5,000. 11. Paid freight on merchandise sold P300. 12. Bought merchandise on account from Cenon Tesorero costing P40,000 13. Paid the account with Cenon Tesorero and availed a 2% discount Periodic Perpetual
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