journal entry letters H, I, J, K, L

Now that you have downloaded this, next step is to journalize the entries. This will be checked randomly by your teacher by showing your answer on the screen. A. Transferred cash P150,000 to the branch B. merchandise P500,000 was transferred to the branch C. Home office approved on Feb 1, the purchase by the branch of its D. furniture and fixtures costing P75,000 for its own use. Home office policy was to maintain and control all fixed assets. E. The branch was authorized to take over P60,000 home office accounts from its Baguio customers and make the necessary collections F. Summary of account sales and (collections) for the quarter Home Office- P1,865,000 and (1,499,400 net of a 4% discount) Branch- P655,000 (P565,000). G. Payment of accounts payable made by the branch in behalf of the home office, 5,000 H. Operating Expenses paid by the Home office Home Office related, P 230,000 Branch related, P 131,250 1. Returns from the original shipment amounted to P75,000. J. P 11,875 of the expenses paid by home office in f) were charged to the branch. K. Cash remittance was made by the branch. L. Depreciation was recorded at a rate of 10%