Ariel Aerobics Studio conducts aerobics classes.

Presented below are transactions during its first month

of operations:

January 2 Made initial investment of cash. P100,000.

2         Bought aerobics equipment, P 70,000.

3        Received loan proceeds from Bank, 150,000.

4         Paid rent for 3 months, P15,000 (Prepaid Rent)

5         Paid suppliers of complimentary T-shirts given to early enrollees as an advertising

promotion, P 6,000.

6         Received cash from- walk-in clients, P 10,000.

7         Billed clients for January class program, P 25,000

8         Collected P 15,000 from clients on account.

14 Paid salaries of aerobics aides, P 5,000

18 Paid P 38,000 for sound system equipment.

23         Paid P 2,000 interest on Bank loan availed of on January 3

24         Received P 3,000 invoice for January utilities.

Year   Particulars PR Debit Credit

Month Day Debit item      

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    Explanation of the Nature of transaction