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Please help me, record the transactions using Periodic and Perpetual Inventory System. Thank you, I'll wait for the answer. Aizee Company engaged in the following
Please help me, record the transactions using Periodic and Perpetual Inventory System. Thank you, I'll wait for the answer.
Aizee Company engaged in the following transactions for the month of January 2021. Analyze and journalize the following transactions using periodic and perpetual inventory system. 2-Jan 4-Jan 5-Jan 6-Jan 7-Jan 8-Jan 9-Jan Aizee withdrew P 355,000.00 from her bank account and invested it in the business. She borrowed an equal amount from her mother, giving her a personal non-interest barring note and invested it also in the business. Purchased office supplies worth P2,500.00 on account Paid rent for the month, P3,000 Purchased merchandise from Choco Trading, P 102,000.00 Terms: 3/5, 2/15, n/30. FOB Destination, Freight collect, P 1,250. Purchased mechandise from Coolit Trading, P36,000.00 Terms: 8-10, 2/15, n/30. FOB SP, Freight prepaid, P 985.00 Purchased merchandise from Happy Company P35,000.00 cash Terms: FOB Destination, freight prepaid, P 800.00 Sold merchandise to Zoey Trading, P 111,000.00. (cost, P 90,000.00) Terms: 10-5, 2/15, 1/30, n/60; FOB Destination, prepaid, P 825.00 Returned defective mechandise purchased from Choco Trading, P3,225.00 Paid Choco Trading in full Sold merchandise to Joey Trading, P 68,250.00. (cost, P 55,100.00) Terms: 1/10,n/60, FOB Destination, Freight collect, P 1,233.00 Zoey Trading returned defective mechandise worth P 2,725.00 (cost, P 2,005.00) Aizee withdrew P5,500.00 for personal use. Zoey Trading settled its account in full Joey Trading settled its account in full Aizee made an additional investment, P 25,000.00 Settled account with Coolit Trading in full Received telephone bill for the month, P2, 145. 12-Jan 15-Jan 18-Jan 20-Jan 21-Jan 24-Jan 28-Jan 30-Jan 30-Jan 31-JanStep by Step Solution
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