journalize transactions for december

01-Dec The company records purchase of merchandise at gross of involce price. The company uses the average cost valuation method. During December, last month of calendar year, the following transactions were completed: Received P26,000 cash from JRP Trading Co. on account, no discount. Purchased 60 units of bag merchandise on account at P 1,000 per 03-Dec unit from Angeles Alliance Co., terms 2/10,n/30, FOB shipping point. Paid transportation charges on purchase of December 3, P1,500. 04 Dec Issued check no.10767. Freight In account is used to record inbound deliveries Sold 80 units of merchandise on account to Island Haze, terms 2/10, 06-Dec 1/30 FOB shipping point, at P1.200 for each bag. Determine cost of the merchandise sold using the company's valuation method. Purchased store supplies for P1,400 and issued check for payment Issued check no. 10768 10-Dec Sold 50 units of bag merchandise for cash at P1,480 for each bag. Paid for merchandise purchased on December 3, less discount. Issued 13-Dec check no. 10769 for the amount paid. Purchase discount availed is recorded as a credit to Purchase Discount Taken Received 5 units of bag merchandise returned on sale of December 6, 14-Dec and credited to customer account. The receipt of bag was correspondingly updated to inventory subsidiary ledger. Determine cost of the merchandise returned. 15-Dec Paid rent for December, P8,000. Issued check no. 10770 Received cash from sale of December 6, less return of December 14 16-Dec and discount Purchased 40 units of bag merchandise from Leatherware Co, for P41,600. Issued check no. 10771 for payment 07-Dec 18-Dec 15-Dec Paid rent for December, P8,000. Issued check no. 10770 Received cash from sale of December 6, less return of December 14 16-Dec and discount Purchased 40 units of bag merchandise from Leatherware Co, for 18-Dec P11,600. Issued check no. 10771 for payment. Sold 80 bags to Hoodwink for P1,240 per bag Terms FOB 19-Dec Destination 3/15,1/45 Paid P23,800 to Bench on account, no discount, issued check no. 20-Dec 10772 Purchased 86 bags merchandise on account from Unison Pan Co. 21-Dec terms 1/10, 1/30, FOB destination, for P90,000 less trade discount of P2,280. 24-Dec Received P72,480 check payment from Simply Shoe Inc, on account 22 Dec no discount Returned 4 pcs of damaged merchandise purchased on December 21, receiving credit from the seller. Refunded cash on 2 pcs of sales returns previously sold for cash last 26-Dec December 10, P2,960. Issued check no 10773. Record the receipt and also the cost of the merchandise returned. Paid salaries of P 33,960, Issued check no. 10774 for encashment and release to each employees. Paid advertising expense to Jimin and Suga for December marketing campaign. Issued check no 10775 for P6,000. 30-Dec Received P 12,800 from Munsing Company on account, no discount. Paid for purchase of December 21, less return of December 24 and discount Issued check no. 10776 28-Dec 29-Dec 31-Dec