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. Solve the following problems MANUALLY Prepare the journal entries for these transactions (Time limit: 2 hours) Mr. Klean opened a Cleaning Service shop on
. Solve the following problems MANUALLY
Prepare the journal entries for these transactions (Time limit: 2 hours) Mr. Klean opened a Cleaning Service shop on September 1, 2019. During the month, the business completed the following transactions: 1 Mr. Klean invested 300,500 cash in the business. 2 Purchased a used truck for $100,000 paying $30,000 cash and issued a promissory note for the balance. 3 Purchased cleaning supplies for P3,000 on account. 5 Paid 921,600 on a 2-year insurance policy, effective September 1. 8 Bought a computer on account from JK Computer shop amounting to $50,000. 12 Billed the customers 938,000 for the cleaning services. 15 Receive cash 940,000 from Pampanga Plaza Hotel for cleaning services to be rendered next month. 18 Paid the amount owed on cleaning supplies in September 3. 20 Paid 216,000 for employees salaries. 21 Collected 919,000 from customers billed September 12. 23 Received a promissory note from a client for the cleaning services rendered, 935,000. 25 Billed customers $25,000 for cleaning services rendered. 30 Paid gasoline for the month of the truck, P800. 31 Withdrew $7,000 cash for personal useStep by Step Solution
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