PROBLEM# 17

MARIANO LERIN BOOKSTORE

JOURNALIZING
MARCH 2021

DATE ACCOUNT TITLES PR DEBIT CREDIT

March 2 Purchases P 74,000
Accounts Payable P 74,000
To record purchase.

3 Accounts Receivable 10,000

Sales 10,000
To record sold merchandise on credit.

5 Cash 7,000
Sales 7,000
To record sold merchandise.

6 Purchases 42,000
Accounts Payable 42,000
To record FOB shipping point

7 Freight in 570
Accounts payable 570
To record received freight bill.

9 Accounts Receivable 38,000

Sales 38,000
To record Recoletos Books.

10 Purchases 26,500
Freight In 500
Accounts Payable 26,500
To record Digao Publishers purchased merchandise.

11 Freight Out 291

Accounts Payable 291
To record freight bill.

12 Accounts Payable 74,000

Cash 72,520
Purchase Discounts 1,480
To record the purchase of March 2.

13 Cash 9,900
 Sales Discounts 100
Accounts Receivable 10,000
Received payment of Detoya Book shop.

14 Accounts Payable 21,000

Cash 20,580
Purchase discounts 420
To record paid made Easy Bookstore

15 Accounts Payable 3,000

Purchase Returns and Allowances 3,000
To record faulty merchandise.

16 Office Supplies 4,780

Accounts Payable 4,780
To record purchased office supplies.

17 Cash 18,810
Sales Discounts 190
Accounts Receivable 19,000
Received payment from Recoletos Books.

18 Accounts Payable 23,500

Cash 23,040
Purchase Discounts 460
To record paid in full.

19 Accounts Receivable 7,800

Sales 7,800
To record sold merchandise Sir. Ed Trading.

20 Accounts Payable 1,280

Office supplies 1,280
To record the returned items.

22 Sales Return and allowances 1,800

Accounts Receivable 1,800
Issued a credit memo to sir. Ed trading

25 Accounts Payable 3,500

Cash 3,500
To record less return on March 20.

26 Accounts Payable 861

Cash 861
To recoird paid freight.
27 Cash 5,880
Sales Discounts 120
Accounts payable 6,000
To record receved payment.

28 Accounts Payable 21,000

Cash 21,000
To record the balance paid by Made easy Bookstore.

31 Cash 9,370
Sales 9,370
To record sold merchandise.