Question
Masaya Merchandising sells facsimile, copers and other types of office equipment. The transaction during the month: Date Transactions Sept 1 Purchased 5 units of copier
Masaya Merchandising sells facsimile, copers and other types of office equipment. The transaction during the month:
Date | Transactions |
Sept 1 | Purchased 5 units of copier on account from Maliksi Corporation at a cost of P8,000 per unit. Payment is due in 30 days. |
| Borrowed from Kababayan Bank, P50,000 at 10% interest per annum due in 3 months. Masaya issued a promissory note for this borrowing. |
| Paid one-year insurance covering the period September 1,2020 August 31, 2021 for P24,000 |
2 | Purchased 10 units of facsimile machines on cash from Tiktok Corporation for a total price of P20,000 |
7 | Sold 3 units of copiers to Juana Bay on account for a total amount of P45,000. The terms of the sale is 2/10,n/30. |
10 | Paid P5,600 for office supplies. |
14 | Collected from Juana Bay the full payment relating to September 7 sales. |
15 | Paid P10,000 salaries of office staff. |
20 | Sold on cash, 2 units of facsimile machines to Juan for P5,000. |
30 | Purchased delivery truck worth P300,000 with estimated useful life of 10 years with no residual value. Masaya paid P200,000 cash and balance payable 30 days after. |
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