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Preparation of Journal Entries. Analyze each transaction and prepare the necessary journal entries. TRANSACTION DEBIT CREDIT Ex. Mode an additional investment in the Cash J

Preparation of Journal Entries. Analyze each transaction and prepare the necessary journal entries.

TRANSACTION DEBIT CREDIT
Ex. Mode an additional investment in the Cash J Company amounting to P10,000.

Cash

J. Capital

10,000

10.000 10.000
A Bought equipment paying cash of P75,000.
B Paid the monthly rent expense amounting to P25,000
C Purchased office supplies of P5,000 on credit
D Purchased building for P55 000, paying P35,000 in cash and issuing a notes payable for the remaining balance
E Charged customers for services provided on account for P25.000
F Paid creditor on account amounting to P60,000
G Paid the following operating expenses: PI5, 000 for salaries: P25 000 for utilities and P5, 000 for insurance
H Borrowed P150,000 from a bank by issuing a promissory note,
I Mr. A permanently reduced his investment in the business by taking cut cash amounting to P10.000
J Purchased inventory on account for P65.000

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