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Prepare the following entry using perpetual method (Need answers and solutions asap, thank you!) 1 Mr. Ms. (family name) withdrew 100,000 from a personal savings
Prepare the following entry using perpetual method
(Need answers and solutions asap, thank you!)
1 Mr. Ms. (family name) withdrew 100,000 from a personal savings account and used it to open a new account in the name of family name) Flesta Mart 2 Acquired a service vehicle costing P76,000. A payment of P25,000 Cash was made and a note payable given for the P51,000 remainder payable for equal monthly lostaliment 4 Purchased merchandise from Puregold P49,500 terms 5/10 3/20. 5 Pald P1.600 delivery charge for January 4 transactions 7 Bought grocery supplies on account 10,700 8 Paid for three months of advertising and recorded Prepaid Advertising in the amount of P6,000 Returned defective merchandise to Puregold amounting to 94.500. 12 Sold merchandise an account P42,000 with 40% mark-up from the inventory cost of 230,000, term 2/10, 1/30 13 Paid P1.200 freight for January 12 transactions. 15 Paid salaries, P5,600. 16 Received returned merchandise from customer P3,500. 17 Signed a promissory note for P30,000 loaned amount from Commonwealth Bank. 19 Paid P5,700 of the amount owed from the transaction of January 7. 20 Purchase additional groceries from Talavera Supermarket amounting to 944,000 21 Colected full settlement of a customer from January 12 transactions. 22 Paid telephone expense, P1,500. 24 Settled accounts to Puregold 25 Paid building rentals for the month, 1,800Step by Step Solution
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