Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Need help making a general journal based on the transactions below. During December, the last month of the accounting period, the following transactions were completed:

Need help making a general journal based on the transactions below.

image text in transcribed
During December, the last month of the accounting period, the following transactions were completed: Date Transaction Dec 1 Paid rent for December, P15,000 Purchased merchandise from Rein Company, on terms 2/10, n/30, P36,000 Paid freight on December 3 purchase, P1,200 5 Returned damaged merchandise purchased on December 3, receiving a credit memo from Rein Company for P3,000 m Sold merchandise to Santa Company on terms 2/10, n/30, P68,500 m Paid freight on merchandise sold to Santa Company, P800 Received P22,300 cash from customer Noel as payment for his outstanding November account balance 29 Paid utilities for December, F10,200

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Management Accounting In A Dynamic Environment

Authors: Cheryl S McWatters, Jerold L Zimmerman

1st Edition

0415839025, 9780415839020

More Books

Students also viewed these Accounting questions

Question

Would the franchises' IRRs change if the cost of capital changed?

Answered: 1 week ago

Question

=+6 Why is there no term for Q4?

Answered: 1 week ago

Question

3. Im trying to point out what we need to do to make this happen

Answered: 1 week ago

Question

1. I try to create an image of the message

Answered: 1 week ago