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prepare Journal Entry, T-Account, Trial balance Momotaro Car Wash Business was established. The following are transactions for the month of January 2021. Date (January) Transactions
prepare Journal Entry, T-Account, Trial balance
Momotaro Car Wash Business was established. The following are transactions for the month of January 2021. Date (January) Transactions 01 Momotaro invested cash amounting to P200,000.00 to the Momotaro Car Wash Business. 02 Paid a total of P5,000.00 for all the business licenses requirements 03 Purchased office supplies for the administrative office amounting to P3,500.00 05 The business paid rent for the month of January amounting to P10,000.00 and an additional 2 months deposit amounting to P20,000.00 Purchased car wash equipment amounting to P60,000.00 and paid 25% down 07 payment with the balance to be paid in 6 months with equal monthly amortization subject to 6% interest 09 Purchased car wash supplies amounting to P7,500.00 15 Rendered services to various clients and per official receipts, the total amount received is P22,000.00 16 Paid the salary for half of the month amounting to P9,000.00 22 Rendered car wash services on account amounting to P15,000.00 24 Cash received for the services rendered for the week amounts to P7,000.00 27 Collected P8,000.00 from customer who availed services on account 29 Momotaro withdrew cash from the business amounting to P3,000.00 31 Paid the salary for the last half of the month amounting to P9,000.00 31 Office supplies used was only P800.00 while car wash supplies used amounts to P3,800.00 31 Paid P4,500.00 for water and electricity consumptionStep by Step Solution
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