Question
During the first month of operation, Mr. Santos Upholsterys shop completed the following transactions. March 1, 2020 Mr. Santos invested P25,000 in the business March
During the first month of operation, Mr. Santos Upholsterys shop completed the following transactions.
March 1, 2020 Mr. Santos invested P25,000 in the business
March 2, 2020 He bought P 6,000 supplies for the shop
March 3, 2020 He paid P 5,000 rent for the month of March for the shop
March 5, 2020 He purchased the equipment of P12,000
March 16, 2020 Receipt from service rendered to various clients P8,250
March 30, 2020 Paid salaries to office assistant P3,000
March 31, 2020 Receipt from services rendered during two-week period P9,300
March 31, 2020 Mr. Santos withdrew P8,000 cash and supplies worth P500 for his personal use.
Required: Record the above transactions in the General Journal-Standard form.
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