PROBLEM 4:

Journalize the following transactions of Dr. Pim Paul Derma Clinic for the month of
February 2018.

FEB. 1 Dr. Paul borrowed P420, 000 cash from his father issuing a personal
promissory note and invested it in the business
2 Facial services rendered to Ms. Marthe on account, P18, 000.
5 Paid taxes and licenses, P2, 500
6 Medical services for cash from walk- in customers, P8, 000
9 Borrowed P200, 000 from Mr. Gah Lish signing a non-interest bearing
promissory note
11 Bought medical equipment on credit from A store, P22, 000.
14 Dr. Paul made a personal withdrawal of P5, 000
18 Paid utilities, P3, 200
19 Collected account from Ms. Marthe in full
20 Sold to Skin Peel for cash the medical equipment bought from A Store,
P22, 000
22 Full settlement of account with A store
28 Dr. Paul invested a computer worth P75, 000 with 20% unpaid balance to
be assumed by the business

Use the following accounts:

Cash; Accounts Receivable; Medical Equipment; Computer; Accoutns Payable; Notes
Payable; Paul, Capital; Paul, Withdrawal; Service Revenue; Taxes and Licenses; Utilities
Expense