LEDGER

CASH
Balance
Date Item Ref Debit Credit
Debit Credit
MARCH 1 CAPITAL GJ1 450,000 450,000  

2 COMPUTER GJ1 70,000 380,000  

3 SUPPLIES GJ1 2,500 377,500  

5 FREIGHT OUT GJ1 2,000 375,500  

11 LAGUNA PAYMENT GJ1 171,500 204,000  

13 COLLECTION GJ1 112,700 316,700  

14 MERCHANDISE GJ1 104,000 212,700  

15 SALARIES GJ1 8,000 204,700  

16 LOANS CITI BANK GJ2 100,000 304,700  

17 REFUND GJ2 4,000 308,700  

20 FREIGHT GJ2 6,000 302,700  

23 CASH SALES GJ2 136,000 438,700  

26 MERCHANDISE GJ2 132,000 306,700  

27 PARTIAL PAYMENT GJ2 47,300 259,400  

28 DRAWINGS GJ2 11,310 248,090  

29 REFUND GJ2 6,000 242,090  

30 VARIOUS EXPENSES GJ2 23,200 218,890  

ACCOUNTS RECEIVABLE
Balance
Date Item Ref Debit Credit
Debit Credit
MARCH 4 SALES ON ACCOUNT GJ1 115,000 115,000  
13 RECIEPT OF PAYMENT GJ1 115,000 0  
30 SALES ON ACCOUNT GJ2 123,000 123,000  

MERCHANDISE INVENTORY
Balance
Date Item Ref Debit Credit
Debit Credit
MARCH 2 LAGUNA SUPPLY GJ1 180,000 180,000  

4 SALES ON ACCOUNT GJ1 102,000 78,000  

6 MERCHANDISE RETURN GJ1 5,000 73,000  

11 PURCHASE DISCOUNT GJ1 3,500 69,500  

14 CASH PURCHASE GJ1 104,000 173,500  

17 PURCHASE RETURN GJ2 4,000 169,500  

18 STA. ROSA COMPANY GJ2 87,000 256,500  

20 FREIGHT GJ2 6,000 262,500  

23 CASH SALES GJ2 115,000 147,500  

26 CASH PURCHASE GJ2 132,000 279,500  
 30 SALES ON ACCOUNT GJ2 111,000 168,500  

SUPPLIE
S
Balance
Date Item Ref Debit Credit
Debit Credit
MARCH 3 OFFICE SUPPLIES GJ1 2,500 2,500  

EQUIPMENT
Balance
Date Item Ref Debit Credit
Debit Credit
MARCH 2 COMPUTER GJ1 70,000 70,000  

ACCOUNTS PAYABLE
Balance
Date Item Ref Debit Credit
Debit Credit
MARCH 2 LAGUNA SUPPLY GJ1 180,000 180,000

6 PURCHASE RETURN GJ1 5,000 175,000

11 PAYMENT TO LAGUNA GJ1 175,000

18 STA. ROSA GJ2 87,000 87,000

27 PARTIAL TO STA ROSA GJ2 47,300 39,700

NOTES PAYABLE
Balance
Date Item Ref Debit Credit
Debit Credit
1 100,00 100,00
MARCH CITI BANK GJ2
6 0 0

CAPITAL
Balance
Date Item Ref Debit Credit
Debit Credit
MARCH 2 INVESTMENT GJ1 450,000 450,000

DRAWINGS
Balance
Date Item Ref Debit Credit
Debit Credit
MARCH 28 DRAWINGS GJ2 11,310 11,310  
 

SALES
Balance
Date Item Ref Debit Credit
Debit Credit
MARCH 4 SALES ON ACCOUNT GJ1 115,000 115,000
23 CASH SALES GJ2 136,000 251,000
30 SALES ON ACCOUNT GJ2 123,000 374,000

               
SALE DISCOUNT
Balance
Date Item Ref Debit Credit
Debit Credit
MARCH 13 MARCH 4 SALES GJ1 2,300 2,300

SALES RETURN & ALLOWANCES

Balance
Date Item Ref Debit Credit
Debit Credit
REFUND TO CASH
MARCH 29 GJ2 6,000 6,000  
COSTUMER
 

COST OF GOODS SOLD

Balance
Date Item Ref Debit Credit
Debit Credit
MARCH 4 SALES IN ACCOUNT GJ1 102,000 102,000
23 CASH SALES GJ2 115,000 217,000
30 SALES ON ACCOUNT GJ2 111,000 328,000

               

FREIGHTOUT
Balance
Date Item Ref Debit Credit
Debit Credit
MARCH 5 FREIGHT GJ1 2,000 2,000  
 

SALARIES
Balance
Date Item Ref Debit Credit
Debit Credit
MARCH 15 SALARIES AND WAGES GJ1 8,000 8,000  
30 SALARIES AND WAGES GJ2 10,000 18,000  
 

RENT
Balance
Date Item Ref Debit Credit
Debit Credit
MARCH 30 RENT GJ2 6,500 6,500  
 

ADVERTISING
Balance
Date Item Ref Debit Credit
Debit Credit
MARCH 30 ADVERTISING GJ2 2,000 2,000  
 

UTILITIES
Balance
Date Item Ref Debit Credit
Debit Credit
MARCH 30 UTILITIES GJ2 4,700 4,700  
  

INCOME SUMMARY
Balance
Date Item Ref Debit Credit
Debit Credit
MARC 3
CLOSING SALES ACCOUNTS GJ3 365,700 365,700
H 0
CLOSING COG GJ3 328,000 328,000
CLOSING EXPENSE ACCOUNTS GJ3 33,200 33,200
CLOSING DRAWING ACCOUNTS GJ3 11,310 6,810
CLOSING INCOME SUMMARY TO
GJ3 0
CAPITAL 6,810