Date Account Title and Explanation P.

R DEBIT
2014
Oct-01 Cash ₱350,000
Reyes,Capital
Initial Investment

3 Prepaid Rent 27,000

Rent Deposit 13,500
Cash
Paid two month's rent deposit and one month advance on cash

5 Photography Equipment 129,000

Reyes,Capital
Transferred Photography Equipment to the business

8 Office Equipment 54,000

Cash
Purchase Office equipment on cash

10 Photography Equipment 75,000

Cash
Received the ordered photgraphy equipment on cash

12 Supplies 21,000
Accounts Payable
Purchased equipment on credit

13 Cash 11,400
Service Revenue
Received cash from previous unbilled portraits

17 Account Receivable 22,500

Service Revenue
Billed customers for portraits

19 Accounts Payable 10,500

Cash
Paid fifty percent of supllies purchased

25 Utilities Expense 3,600

Cash
Payment for electricity bill

26 Utilities Expense 2,100

Cash
Payment for telephone bill

28 Cash 7,500
Account Receivable
Payment received from customer billed
29 Salaries Expense 12,000
Cash
Payment for salaries

30 Cash 1,500
Unearned Income
Received an advance payment from customers

31 Reyes,Drawings 16,000
Cash
Withdraw from a business for emergency
CREDIT

₱350,000

40,500

129,000

54,000

75,000

21,000

11,400

22,500

10,500

3,600

2,100

7,500
12,000

1,500

16,000
 CASH
DEBIT CREDIT DEBIT
1-Oct P 350,000 3-Oct 40,500 17-Oct P22,500
13-Oct 11,400 8-Oct 54,000 P 15,000
28-Oct 7,500 10-Oct 75,000
30-Oct 1,500 19-Oct 10,500
25-Oct 3,600
26-Oct 2,100
29-Oct 12,000
31-Oct 16,000
20,400 213,700
P 156,700

PREPAID RENT
DEBIT CREDIT DEBIT
3-Oct P 27,000 3-Oct P 13,500
P 27,000 P 13,500

REYES,CAPITAL
DEBIT CREDIT DEBIT
1-Oct P 350,000 31-Oct P 16,000
5-Oct 129,000 P 16,000
P479,000

UTILITIES EXPENSE
DEBIT CREDIT DEBIT
25-Oct P 3,600 29-Oct P 12,000
26-Oct P 2,100 P 12,000
P 5,700
ACCOUNT RECEIVABLE OFFICE EQUIPMENT
CREDIT DEBIT
28-Oct P 7,500 8-Oct P 54,000
P 54,000

RENT DEPOSIT PHOTOGRAPHY EQUIPMENT

CREDIT DEBIT
5-Oct P 129000
10-Oct 75,000
P 204,000

REYES,DRAWINGS SERVICE REVENUE

CREDIT DEBIT
13-Oct
17-Oct

SALARIES EXPENSE
CREDIT
 SUPPLIES
CREDIT DEBIT CREDIT
12-Oct P 21,000
P 21,000

ACCOUNTS PAYABLE
CREDIT DEBIT CREDIT
19-Oct 10,500 12-Oct 21,000
10,500 21,000
P 10,500

UNEARNED INCOME
CREDIT DEBIT CREDIT
P 11,400 30-Oct P 1,500
P 22,500 P 1,500
P 23,900
 CHART OF ACCOUNTS
ASSET LIABILITIES
110 CASH 210 ACCOUNTS PAYABLE
120 ACCOUNTS RECIEVABLE 220 UNEARNED REVENUE
130 SUPPLIES
140 PREPAID RENT OWNER'S EQUITY
150 RENT DEPOSIT 310 REYES, CAPITAL
160 PHOTGRAHY EQUIPMENT 320 REYES,DRAWINGS
170 OFFICE EQUIPMENT

REVENUE EXPENSES
410 SERVICE REVENUE 510 UTILITIES EXPENSES
520 SALARIES EXPENSES