Lesson 2 Posting the Journal Entries to the Ledger EXTEND

Name: Time: John Karlo Dalangin, a dentist, established Dalagan Clinic. transactions
occurred during June of this year: The following a. Dalangin deposited P280,000 in a bank
account in the name of the business. b. Bought a 3-in-1 office equipment from Pitular
Equipment for P4,950 paying Pl,000 in cash and the balance on account. c. Bought waiting
room chairs and a table, paying cash, P12,300. d. Bought office intercom on account from
NE office Supply, P2,750. e. Received and paid the telephone bill, P1,080. f. Performed
professional services on account, P12,940. g. Received and paid the electric bill, P1,850. h.
Received and paid the bill for the Regional Dental Convention, P3,500. i. Performed
professional services for j. Partially settled accounts with NE Office Supply, P1,000. k. Paid
rent for the month, P8,400. 1. Paid salaries of the part-time receptionist, P3,500. m.
Dalangin withdrew cash for personal use, P8,500. n. Received P5,500 on account from
patients who were previously billed. cash, P17, 650. Required: 1. Establish the following
accounts in the Ledger: Cash; Accounts Receivable; Office Equipment; Office Furniture;
Accounts Payable; Dalangin, Capital; Dalangin, Withdrawals; Professional Fees; Salaries
Expense; Rent Expense; Utilities Expense and Miscellaneous Expense. 2. Record the
transactions directly into the Ledger using the alphabets to identify each transaction. Use
the sample format below.