Question
Prepare the GENERAL LEDGER and TRIAL BALANCE ROBINA MERCHANDISING The business transactions for the month of July are provided below: On July l, 2022, Robina
Prepare the GENERAL LEDGER and TRIAL BALANCE
ROBINA MERCHANDISING The business transactions for the month of July are provided below: On July l, 2022, Robina Bonna initially invested P200,OOO cash into Robina Merchandising. On the same date, she paid P45,000 for six months rent on the store space, PIO,OOO for business license and permits, and P50,OO() for various store furniture. She also bought P60,000 worth of office supplies with intention to sell them at a higher price. However, the next day, the business received a PI credit memo for allowance granted on the purchased merchandise. The supplies were bought from Luisa supplies store on term n/60. On July 6, the business bought from Ericka Supplies Shop P5,000 worth of supplies to be used in the store. Terms: 50% downpayment, balance n/30. Karla, a part time employee, was able to sell on July 12 someof the store's merchandise to Ms. Keanna for P 16,000 on terms 50% downpayment, balance 2/10, n/30. On July 24, the business sold to Ms. Allesandra merchandise for P 12,000 on terms 2/10, n/30. On July 30, Ms. Florencia paid the business P42,000 for merchandise bought on the same day. Although Ms. Florencia already paid for all the merchandise, she requested that some merchandise be delivered to her new business address sometime next month. At the end of the month, the business paid utilities totalling P4,920 and miscellaneous expenses amounting to P2,710.
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