In October 2020, the following transactions occurred. All transactions involving sale (and purchase) of goods and services are VAT-inclusive, except sale (and purchase) transactions quoted at a list price, in which case, 12% VAT will be computed and added to the invoice price and w
hat journal does each entry belongs
goods and services are VAT-inclusive, except sale (and purchase) transactions quoted at a list price, in In October 2020, the following transactions occurred. All transactions involving sale (and purchase) of which case, 12% VAT will be computed and added to the luvoice price. Oct 13 - Purchased Japan Silk fabric from lapsilk, P112,000 with the following terms: 20% downpayment, halance 2/15, n/30; FOB Destination - Frcight Collect. In order to maintain good credit standing with lapsilk, Bel scttled its outstanding account by issuing 30-day non-interest bearing promissory note to lapsilk (Ict 14 - Paid freight on lapsilk Shipment, P2,2401. Oct. 14- Issued Credit Memo No. 100 to Arlene Co. for allowances granted on slightly deformed items delivered the previous day, P672. Oct 15- Received P10,000 from Arlene Co. in partial settlement of the account on Oct. 11. No partial discount is applied. Oct 16 - Sold bridal garments on account FABrides, at a list price P38,000. Shippiog terms: FOB Destination-freight prepaid; P560. (Ict 17 - Purchased ACS unit for the store from Ahe Appliances, P56,000. Terris: 2/10; n/301; FOR Shipping Point, Collect Oct 17 - Paid freight on AC unit, P560. Oct 18 - Sold goods on account to POSHMina, P40,320 oct of trade discount, VAT-inclusive. Freight charged by Rapid Delivery amounts to P1,120; FOB Destination, collect Oct 21- Collected the balance of the account of Arlene Co. in full. Oct 26- Paid Abe Appliance Center in full. Oct 27- Cash Purchases, P40,000 list price, less 10% and 20%. FOB Destination, prepaid, P1,120. Oct 28 - Paid JapSilk account in full. Oct 28 - Paid for utilities: Meralco - P13,440; PLDT - P2,240; Maynilad - P896 ct 30-Cash Sales, P280,000 lis FOB shipping point, collect. Frelicht Cost P5,000. Oct 31- Refunded a cash customer for goods returned, P2,240. Page 1 of 1 304 wards English (Chilppines Focusk's + 1615 In October 2021, the following transactions curred. All transactions involving sale (and purchaw) of which w12% VAT will be computed and added to the invece price goods and scrators are VAT-iuchushe, except sale and purchase transmetoas quoted at a list price. In Oct 13 - Purchased Japun Silk fabric from (apsilk, 1112 000 wit: the following terms: 20% domument bulance 2./15 n/00; FOR Destination - Freight Coke. Morder to maintain good credit scanding with Joksilk, Bel settled its coutstanding anunt issuing 30-day nee interest bearing promissory not to lapsilk Oct 11 - Paid freight on lapsilk Shipment.52,290. Oct. 14 Issued Creet Mema No. 100 to Arlene Ca. for allowances granted on Seattly deformed items delivered the previous day, P672. Od 15. Reciwd P10,000 from Artene in partial settent of the count on Dei. 11. No partial discount is applied Destination-freight prepon: 560 Oct 16 Sald berdal garments en account to Eurides, at a list price of P28,000. Shipping terms: FOB Oct 17-Purchased AC unit for the store from Abe Appliances, P56.000. Terms 2/10:0/30; COD Shipping Poant Collect Uct 17. Pald height on Ac unit, 360 C: 18 Sold goodson acou PDSH, P411,320 ct or trade discount, VAT Inclusive. Freight darged by Rapid Delivery amounts to P1120, POB Destination collect Od 21. Collected the balance of the amount af Altenes in full Ou 25. Till Alu Apple Center in Cet 27- Cach Purchases. P40,000 list price ke 04 and 204. FD# Destinations, prepaid, 29,120. C 28 - Paldar Silk accent in full. Oct 28 Paid for utilities: Meralco P13.110: PLLYT P2.21U: Maynilad PG Oct 30 Cach Sales P280,000 list price. PUB shtyping polic,collect. Freight Cast PS, 000. Oct 31- Ketunded a caste customer for goods returned. 22.10. goods and services are VAT-inclusive, except sale (and purchase) transactions quoted at a list price, in In October 2020, the following transactions occurred. All transactions involving sale (and purchase) of which case, 12% VAT will be computed and added to the luvoice price. Oct 13 - Purchased Japan Silk fabric from lapsilk, P112,000 with the following terms: 20% downpayment, halance 2/15, n/30; FOB Destination - Frcight Collect. In order to maintain good credit standing with lapsilk, Bel scttled its outstanding account by issuing 30-day non-interest bearing promissory note to lapsilk (Ict 14 - Paid freight on lapsilk Shipment, P2,2401. Oct. 14- Issued Credit Memo No. 100 to Arlene Co. for allowances granted on slightly deformed items delivered the previous day, P672. Oct 15- Received P10,000 from Arlene Co. in partial settlement of the account on Oct. 11. No partial discount is applied. Oct 16 - Sold bridal garments on account FABrides, at a list price P38,000. Shippiog terms: FOB Destination-freight prepaid; P560. (Ict 17 - Purchased ACS unit for the store from Ahe Appliances, P56,000. Terris: 2/10; n/301; FOR Shipping Point, Collect Oct 17 - Paid freight on AC unit, P560. Oct 18 - Sold goods on account to POSHMina, P40,320 oct of trade discount, VAT-inclusive. Freight charged by Rapid Delivery amounts to P1,120; FOB Destination, collect Oct 21- Collected the balance of the account of Arlene Co. in full. Oct 26- Paid Abe Appliance Center in full. Oct 27- Cash Purchases, P40,000 list price, less 10% and 20%. FOB Destination, prepaid, P1,120. Oct 28 - Paid JapSilk account in full. Oct 28 - Paid for utilities: Meralco - P13,440; PLDT - P2,240; Maynilad - P896 ct 30-Cash Sales, P280,000 lis FOB shipping point, collect. Frelicht Cost P5,000. Oct 31- Refunded a cash customer for goods returned, P2,240. Page 1 of 1 304 wards English (Chilppines Focusk's + 1615 In October 2021, the following transactions curred. All transactions involving sale (and purchaw) of which w12% VAT will be computed and added to the invece price goods and scrators are VAT-iuchushe, except sale and purchase transmetoas quoted at a list price. In Oct 13 - Purchased Japun Silk fabric from (apsilk, 1112 000 wit: the following terms: 20% domument bulance 2./15 n/00; FOR Destination - Freight Coke. Morder to maintain good credit scanding with Joksilk, Bel settled its coutstanding anunt issuing 30-day nee interest bearing promissory not to lapsilk Oct 11 - Paid freight on lapsilk Shipment.52,290. Oct. 14 Issued Creet Mema No. 100 to Arlene Ca. for allowances granted on Seattly deformed items delivered the previous day, P672. Od 15. Reciwd P10,000 from Artene in partial settent of the count on Dei. 11. No partial discount is applied Destination-freight prepon: 560 Oct 16 Sald berdal garments en account to Eurides, at a list price of P28,000. Shipping terms: FOB Oct 17-Purchased AC unit for the store from Abe Appliances, P56.000. Terms 2/10:0/30; COD Shipping Poant Collect Uct 17. Pald height on Ac unit, 360 C: 18 Sold goodson acou PDSH, P411,320 ct or trade discount, VAT Inclusive. Freight darged by Rapid Delivery amounts to P1120, POB Destination collect Od 21. Collected the balance of the amount af Altenes in full Ou 25. Till Alu Apple Center in Cet 27- Cach Purchases. P40,000 list price ke 04 and 204. FD# Destinations, prepaid, 29,120. C 28 - Paldar Silk accent in full. Oct 28 Paid for utilities: Meralco P13.110: PLLYT P2.21U: Maynilad PG Oct 30 Cach Sales P280,000 list price. PUB shtyping polic,collect. Freight Cast PS, 000. Oct 31- Ketunded a caste customer for goods returned. 22.10
