Journal Entries- Activity

QUESTIONS ACCOUNT TITLE DEBIT CREDIT

A. Cash P150,000
Adam Eve, Capital P150,000

B. Delivery Equipment P40,000

Accounts Payable P40,000

C. Notes Receivable P3,500

Delivery Fees P3,500

D. Cash P3,500
Account Receivable P3,500

E. Accounts Receivable P40,000

Delivery Equipment P40,000

F. Paid Utilities P2,250

Cash P2,250

G. Salaries Expense P4,600

Cash P4,600

H. Accounts Receivable P3,000

Cash P3,000

I. Delivery Equipment P25,000

Cash P25,000

J. Delivery Services P5,000

Account Payable P5,000
DESCRIPTION

Adam Eve invested P150,000 in the business.

Purchased delivery equipment on account.

Earned delivery fees on notes receivable.

Collected the account receivable for the delivery fees.

Paid the accounts payable for delivery equipment.

Paid utilities for the month.

Paid salaries for the month.

Incurred delivery expenses and paid the said amount.

Purchased more delivery equipment.

Performed delivery services for a retail store on account.