Transactions of Tagbilaran Hardware and Auto Supply for the month of July 20A follows: Journalize the above transactions Journalizing Merchandising Transactions Under Periodic Inventory System Bought merchandise for cash from A. Calaguian Enterprise, P50,000. July 1 3 Returned P6,000 cost of merchandise to A. Calaguian Enterprise for not conforming with the order. 4 Bought merchandise on account costing P20,000 from B. Laranang Co. Term: 2/10, N/30 6 Returned P2,000 cost of merchandise to B. Laranang Co. 7 Paid the account with B. Laranang Co., net of purchase returns and 2% purchase discounts. 8 Sold merchandise for cash to K. Guiamad Trading, P35,000. 9 Received P2,000 cost of merchandise returned from K. Guiamad Trading. 10 Sold merchandise on account to L. Aana Co. P20,000. Term: 3/10, N/30. 11 Received P3,000 cost of merchandise returned from L. Aana co 12 Collected the account of L. Aana Co. net of sales returns and 3% sales discounts. 13 Bought merchandise for cash from V. Orbesido Co., P30,000 14 Return P1,000 cost of merchandise from V. Orbesido Co., P2,000. 15 Bought merchandise on account from D. Javier Enterprise, P35,000; Term: 10% if paid within 5 days. 16 17 18 Return of P2,500 cost of merchandise from D. Javier Enterprise. Paid the account with D. Javier Enterprise after deducting the purchase return and availed a 10% purchase discount. Additional cash investment of C. Tabaranza, the owner, P300,000 Cash withdrawal by C. Tabaranza for her personal use, P50,000 Paid salaries for the month, P20,000. 19 20 Required: Journalizing a Service Concern Business Judylaine Berhay operates a laundry shop business in Dipolog City. The given chart of accounts are as follows: Chart of Accounts Owner's Equity J. Berhay Capital J. Berhay, Drawing Assets Cash in Bank Accounts Receivable Unused Laundry Supplies Prepaid Insurance Laundry Equipment Delivery Equipment Income Laundry Income Liabilities Notes Payable Accounts Payable Unearned Laundry Income Expenses Salaries Expense Taxes and Licenses Utilities Expense Repairs and Maintenance Rental Expense Transactions: March 1 - Opened an account with the Bank of the Philippine Island and made initial deposit of P500,000 under savings account. 2 - Bought laundry machine on account costing P250,000 and issued a promissory note. 5 - Bought laundry supplies on account, P12,000. 7 - Laundry income for the week: Cash Basis Billings to various customers P14,500 10,300 9 - Paid P5,000 for vehicle insurance. 193 11. Paid P8,300 for taxes and licenses to the city government. 12 - Partial collections from customers' account of March 7, P2,300 Received a bill from Caltex Gasoline Station for gasoline and oil, P8,000 Record the foregoing transactions in a combination journal. Use columnar pad and provide 14 Laundry income for the week: On cash basis P30,000 Billings to various customers 20,000 16 - Withdrew cash of P5,000 for personal use. 18 - Full collection of customers' account of May 7, P8,000. 20 - Partial payment of account on bill from Caltex Gasoline Station of May14 P5,000. 21 - Laundry Income for the week: Cash Basis P12,000 Billings to various customers 15,000 23 - Received cash from a customer but service has yet to be rendered, P3,000. 24 - Received a bill from Caltex Gasoline Station for gasoline withdrawn, P10,000 25 - Full payment of account on bill from Caltex Gasoline Station of May 14, P3,000. 28 - Laundry Income for the week: On cash basis P15,000 25,000 Billings to various customers 29 - Full payment of the promissory note issued on March 2 for laundry machine, P250,000 30 - Paid electric and water bills for the month, P25,000. 31 - Paid salaries to employees, P20,000. Required: columns for the following: Full payment of laundry supplies bought on March 5, P12,000. Received a bill from Caltex Gasoline Station, P4,500. Paid rental in the amount of P5,000. Made additional investment of P50,000 and deposited to the bank. Laundry Income Cr. Accounts Payable Dr. Cr. 1) Cash in Bank Dr. Cr. Accounts Receivable Dr. Cr 2) Sundry Accounts 5-9 Date Particulars Debit Credit