State the accounts to be debited and credited in the following transactions of M.

Rogers catering services

and do/write your analysis as well.

ILLUSTRATION

Transaction 1

Nov. 1 – M. Rogers opened a catering service he called “McRogers”. He invested ₱120,000 cash and
equipment, ₱50,000.

Transaction 2

Nov. 3 – He purchased kitchen utensils, tools and additional equipment from Kent Trading on credit,
₱20,000.

Transaction 3

Nov. 7 – Paid for advertisement announcing the opening of his business, ₱5000.

Transaction 4

Nov. 9 – Paid one-half of the account due to Kent Trading.

Transaction 5

Nov. 11 – Rendered a catering service to N. San Juan for his son’s wedding and received cash of
₱12,000.

Transaction 6

Nov. 13 – Paid for the food supplies used in San Juan’s wedding party, ₱5000.

Transaction 7

Nov. 17 – Billed J. Estrada, ₱15,000 for catering service rendered in his birthday party.

Transaction 8

Nov. 20 – Paid the salary of the assistant cook, ₱5000.

Transaction 9

Nov. 22 – Received from J. Estrada the amount of ₱10,000 as partial payment of the account due
from him.

Transaction 10

Nov. 25 – Withdrew ₱5000 for his personal use.