GENERAL JOURNAL

DATE ACCOUNT TITLES AND EXPLANATION DEBIT CRED

2020
July 5 Investment 5 0 0 0 0 0 . 00
Cash

ASSET METHOD
18 Inventory 5 4 0 0 0 0 . 00
Cash
Accounts Payable

EXPENSE METHOD
Inventory 5 4 0 0 0 0 . 00
Cash
Accounts Payable

25 Accounts Receivable 9 0 0 0 0 . 00
Sales Revenue

Cost of Goods Sold 8 5 0 0 0 . 00

Inventory

30 Notes Receivable 1 0 0 0 0 . 00
Service Revenue

August 10 Accounts Receivable 7 5 8 0 0 . 00

Sales Revenue

Cost of Goods Sold 7 4 0 0 0 . 00

Inventory

ASSET METHOD
20 Inventory 8 5 0 0 0 . 00
Cash

EXPENSE METHOD
Inventory 8 5 0 0 0 . 00
Cash

23 Accounts Receivable 2 3 0 0 0 . 00
Service Revenue

25 Accounts Receivable 3 0 0 0 0 0 . 00
Sales Revenue
 Cost of Goods Sold 2 4 0 0 0 0 . 00
Inventory

LIABILITY METHOD
30 Salaries Expense 6 4 0 0 0 . 00
Cash
Paid employees' salary for 2 months

September 6 no entry

18 RDC , Drawings 2 0 0 0 0 0 . 00
Cash
Withdrawal for personal use

23 RDC , Drawings 2 0 0 0 0 . 00
Inventory
Withdrawal for purchase of inv. to be sold

25 Cash 1 1 5 0 0 . 00
Accounts Receivable
Collected 50% receivable from customer

INCOME METHOD
30 Cash 3 0 0 0 0 . 00
Service Revenue
Received cash for service to be rendered

EXPENSE METHOD
October 7 Accounts Receivable 2 1 0 0 0 0 . 00
Sales Revenue

Cost of Goods Sold 1 9 2 3 0 0 . 00

Inventory

15 Accounts Payable 2 7 0 0 0 0 . 00
Cash
Paid 50% payable

INCOME METHOD
28 Cash 1 8 0 0 0 0 . 00
Service Revenue
Received cash for service to be rendered

EXPENSE METHOD
November 18 Accounts Payable 2 7 0 0 0 0 . 00
Cash
Paid remaining payable

ASSET METHOD
24 Inventory 2 5 0 0 0 0 . 00
Cash

EXPENSE METHOD
Inventory 2 5 0 0 0 0 . 00
Cash

December 18 Accounts Receivable 8 0 0 0 0 . 00

Sales Revenue

Cost of Goods Sold 5 0 0 0 . 00

Inventory

LIABILITY METHOD
26 Cash 1 0 0 0 0 . 00
Notes Receivable
Collected all receivables from customer

31 no entry
 Page 1
CREDIT

5 0 0 0 0 0 . 00

2 7 0 0 0 0 . 00
2 7 0 0 0 0 . 00

2 7 0 0 0 0 . 00
2 7 0 0 0 0 . 00

9 0 0 0 0 . 00

8 5 0 0 0 . 00

1 0 0 0 0 . 00

7 5 8 0 0 . 00

7 4 0 0 0 . 00

8 5 0 0 0 . 00

8 5 0 0 0 . 00

2 3 0 0 0 . 00

3 0 0 0 0 0 . 00
2 4 0 0 0 0 . 00

6 4 0 0 0 . 00

2 0 0 0 0 0 . 00

2 0 0 0 0 . 00

1 1 5 0 0 . 00

3 0 0 0 0 . 00

2 1 0 0 0 0 . 00

1 9 2 3 0 0 . 00

2 7 0 0 0 0 . 00

1 8 0 0 0 0 . 00
2 7 0 0 0 0 . 00

2 5 0 0 0 0 . 00

2 5 0 0 0 0 . 00

8 0 0 0 0 . 00

5 0 0 0 . 00

1 0 0 0 0 . 00