Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Please answer all. I will give an upvote. Thank you. Record the transactions in the journal Ms. Brooch Hath decided to invest in the salon
Please answer all. I will give an upvote. Thank you.
Record the transactions in the journal Ms. Brooch Hath decided to invest in the salon business and named her salon "The Broohah Luk Salon. The following are the salon's transactions for the month of November. Journalize the transactions 2020- Transactions Nov. 2 Ms. Brooch invested P900,000 in the business. Nov 5 Bought beauty equipment from Dis Garcia's Beauty Shop; P120,000 on credit. Terms: 30% down payment and the remaining balance on account. Nov 7 Paid one half on the balance to Dis Garcia's and issued a note for the remainder Nov 14 Purchased beauty salon supplies from D'Panots for cash, P3,000 Nov 17 Return of defective supplies to D'Panots, P500. Refund will be issued after 10 days Nov 19 Full settlements of the note with Dis Garcia's Beauty Shop Nov 20 paid beautician's salaries, P8,800 Nov 25 Received electrical bill from MERALCO. P3,600 Nov 27 Received the refund for the defective supplies returned to D'Panots Nov 29 Ms Brooch withdrew P10,000 worth of beauty equipment for personal use. Nov 31 Paid the electric bill to MERALCOStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started