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please find debit and credit in journal paper Prepare journal entries for the following transactions: July 01 Purchased furniture, for cash P12,000 July 02 -

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please find debit and credit in journal paper

Prepare journal entries for the following transactions: July 01 Purchased furniture, for cash P12,000 July 02 - Received the bill for the light and water bills of the previous month, P4,400 Paid P4,400, the balance on credit term Tools. Instead of returning the tools, a priced reduction (rebate) of P1,000 July 03 - Bought from Times Engineering Company some shop tools, P14,400 July 04- Complained to Times Engineering Company about some defective shop was given by the seller July 05-Received P48,000 income for services rendered during the month July 06-Sold an old electric fan for P120 July 07-Paid the salary of the technician, P11,500 July 08- Bought shop supplies for cash, P2,800 July 09 - Rendered services to Vicente Castro, P6,000. Castro made a partial paymento July 10-Paid half of the amount owed to Time Engineering Company. July 11 -Andres Gaerlan, the proprietor, withdrew cash for personal use, P6,000 July 12 - Collected half of the amount due from Vicente Castro July 13-Obtained a P50,000 loan from the bank in exchange for a promissory note July 14-Paid one-year fire insurance premium P3,900 July 15- Andres Gaerlan, the proprietor, increased his capital by P70,000 July 16-Signed a contract with Velfast Construction Co, an independent contractor, for the construction of a shop, which is expected to cost P5,000,000. The building will be used by Andres Gaerlan in the early part of the following year July 17-Andres Gaerlan bought a table valued at P1,000 for the use of his child using cash from the business missory note payable to the bank. Interest on the loan amounted to P1,000 July 19 -Collected in full the balance of Vicente Castro July 20-Bought additional shop supplies, on credit, P2,800 July 21 Paid the light and water bills received on July 02 July 22- Paid the order of additional shop tools and equipment from a supplier in USA of P8,000 July 23- Services rendered to clients, for cash, P45,300 July 24-Services rendered to clients, on credit term, P38,600 July 25-Paid miscellaneous expenses incurred for the period of P5,700

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