Question
problem solving. journalize the following transactions. On March 1 of the current year, R. Traquea opened a T.V. repair shop by investing P500,000 cash in
problem solving.
journalize the following transactions.
On March 1 of the current year, R. Traquea opened a T.V. repair shop by investing P500,000 cash in the business. He had completed the following transactions in the said month.
march 2 - Paid the rent on the shop space for the month, P4,000.
5 - Purchased shop supplies for cash, P13,500.
7 - Paid P4,500 for newspaper advertising.
8 - Completed repair work to various customers and received P75,000 in full payment.
9 - Completed repair work for R. Locking on credit, P45,000.
13 - Purchased a filing cabinet from M. De Mesa Trading on credit P25,200.
15 - Paid M. De Mesa Trading.
19 - Received payment from R. Locsin.
25 - Paid utility bills, P1,750.
26 - Withdrew P5,000 cash for personal living expenses.
27 - Purchased a service van, P200,000 on credit. Gave P80,000 cash and a note for the balance.
30 - Paid the helper's salary, P5,000.
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