EXERCISES:

1. Journalize the following transactions using a General Journal below:

March	1	Mrs. Lanie Mercado invested P150,000 cash on her business "Mercado All Around Services"
	3	Rendered Service to a client on account, P4,000.
	4	Bought computer on account from Emcor, P40,000
	10	Mrs. Mercado withdrew cash of P5,000.
	12	Paid office rental for the month, P1,000.
	15	Mrs. Mercado made a partial payment of her account at Emcor, P3,000.
	16	Mrs. Mercado invested office table worth P10,000.
	19	Mrs. Mercado has made partial collection of a client's account. P2,000.
	20	Borrowed money from Metrobank and issued a note, P10,000
	21	Mrs. Mercado made a partial payment of her account at Emcor, P2,000
	22	Paid taxes and licenses and other assessments, P1,000.
	25	Received cash for services rendered, P3,000
	28	Bought office supplies at CS Trading on account, P5,000.
	30	Made a partial payment of P1,000 to CS trading
	30	Paid Metrobank for borrowed money.

	Date	Description	Post	Debit	Credit
Ref .
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43

GENERAL JOURNAL

Account Title:	CASH
	Date	Description	Post	Debit		Date	Description	Post	Credit	Balance
Ref .	Ref .
1												1
2												2
3												3
4												4
5												5
6												6
7												7
8												8
9												9
10												10
11												11
12												12
13												13
14												14

Account Title:

ACCOUNTS RECEIVABLE

Date

Description

Post

Debit

Date

Description

Post

Credit

Balance

Ref .

Ref .

1

1

2

2

3

3

Account Title:

OFFICE SUPPLIES

Date

Description

Post

Debit

Date

Description

Post

Credit

Balance

Ref .

Ref .

1

1

2

2

3

3

Account Title:

OFFICE EQUIPMENT

Date

Description

Post

Debit

Date

Description

Post

Credit

Balance

Ref .

Ref .

1

1

2

2

3

3

Account Title:

ACCOUNTS PAYABLE

Date

Description

Post

Debit

Date

Description

Post

Credit

Balance

Ref .

Ref .

1

1

2

2

3

3

Account Title:

NOTE PAYABLE

Date

Description

Post

Debit

Date

Description

Post

Credit

Balance

Ref .

Ref .

1

1

2

2

3

3

Account Title:

MERCADO, EQUITY

Date

Description

Post

Debit

Date

Description

Post

Credit

Balance

Ref .

Ref .

1

1

2

2

3

3

Account Title:

MERCADO, DRAWING

Date

Description

Post

Debit

Date

Description

Post

Credit

Balance

Ref .

Ref .

1

1

2

2

3

3

Account Title:

SERVICE INCOME

Date

Description

Post

Debit

Date

Description

Post

Credit

Balance

Ref .

Ref .

1

1

2

2

3

3

Account Title:

RENT EXPENSE

Date

Description

Post

Debit

Date

Description

Post

Credit

Balance

Ref .

Ref .

1

1

2

2

3

3

Account Title:

TAXES AND LICENSES EXPENSE

Date

Description

Post

Debit

Date

Description

Post

Credit

Balance

Ref .

Ref .

1

1

2

2

3

3

Account Title:

Date

Description

Post

Debit

Date

Description

Post

Credit

Balance

Ref .

Ref .

1

1

2

2

3

3

Account Title:

Date

Description

Post

Debit

Date

Description

Post

Credit

Balance

Ref .

Ref .

1

1

2

2

3

3

Account Title:

Date

Description

Post

Debit

Date

Description

Post

Credit

Balance

Ref .

Ref .

1

1

2

2

3

3

A Proprietor Business
TRIAL BALANCE
For the period March 31, 2020
	Account Titles	Post	Debit	Credit
Ref .
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30