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hi! can you help me? provide journal entry. thank you! Pedro Matapang decided to open his computer repair shop on February 14, 2016, naming it
hi! can you help me? provide journal entry. thank you!
Pedro Matapang decided to open his computer repair shop on February 14, 2016, naming it Matapang Computer Repairs. Pedro knows that business transactions should be separated from personal finances. Thus, he decided to Invest PHP200,000 in this business. He deposited the amount with Nation Bank. February 15, 2016 - Pedro purchased one computer unit from XY Computer Store to be used for the business. He issued check number 001 amounting to PHP25,000. February 15, 2016 - Matapang entered into a contract with Makisig to maintain the computers of Makisig for two months starting on February 15, 2016 up to April 15, 2016. On the same date, Makisig paid the total contract amount of PHP40,000 in full. February 16, 2016 - Pedro hired Juana Magaling, an experienced secretary February 17, 2016 - Repaired the computer of Jean and collected PHP10,000 February 18, 2016 - Repaired Mike's computer. However, Mike will pay PHP15,000 on March 18, 2016 February 19, 2016 - Pedro purchased Office Supplies from MM Merchandise amounting to PHP5,000 on account. Pedro will pay this on March 30, 2016. February 25, 2016 - Paid the salary of Juana amounting to PHP4,000 February 26, 2016 - Matapang Computer Repairs rendered services amounting to PHP25,000 for the repair of the computer units of Mr. Tamad. However, the payment for these Services of Matapang will be made on Mar 15, 2016 February 28, 2016 - Matapang Repairs received payment from Mr. Despacito amounting to PHP25,000. This payment is for the repair of the computer units of Mr. Tamad on March 5, 2016 February 29, 2016 - Matapang received the electric bill for the month of February amounting to PHP3,800 Matapang will pay this bill on March 2016Step by Step Solution
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