Date Particulars PR Debit (DR) Credit (CR)

Jun 1* Cash 101 P 500,000

Merchandise Inventory 109 50,000
Owner’s Equity 301 P 550,000
Initial Investment of Owner

1* Taxes and Licenses Expense 705 P 1260

Cash 101 P 1260
Payment of licenses

1 Purchases 501 P 48,000

Accounts Payable 201 P 48,000
Purchase of Office Equipment

1* Freight-In 502 P 2,000

Cash 101 P 2,000
Payment of equipment

1* Rent Expense 702 P 45,000

Cash 101 P 45,000
Payment of Rent

1* Office Supplies Expense 704 P 1,250

Cash 101 P 1,250
Office Supplies Bought

1 Purchases 501 P 40,000

Freight-In 502 P 1,600
Cash 101 P 41,600

1* Advertising Expense 602 P 10,000

Cash 101 P 10,000
Payment of Advertisement

2* Purchases 501 P 19,800

Cash 101 P 19,800
Cash purchase

3 Sales 401 P 82,560

Cash 101 P 82,560
Cash Sales

5* Furniture and Fixtures 102 P 42,650

Accounts Payable 201 P 42,560
Equipment Bought

6 Accounts Payable 201 P 2,650

 Purchase Return & Allowances 503 P 2,650
Purchase Return

7 Cash 101 P 75,000

Owner’s Equity 301 P 75,000
Additional Investments

8 Purchases 501 P 16,000

Freight-In 502 800
Cash 101 P 16,800

10* Accounts Receivable 103 P 36,500

Freight-Out 603 P 920
Sales 401 P 36,500
Cash 101 P 920

11* Accounts Receivable 103 P 12,500

Sales 401 P 12,500
Sold Merchandise

12 Accounts Payable 201 P 6,500

Sales Returns & Allowances 402 P 6,500
Sales Return

15* Sales Salaries Expense 601 P 12,000

Office Salaries Expense 701 P 18,000
Accounts Payable 201 P 30,000
Paid of Expences

15* Cash 101 P 200,000

Loan Payable 251 P 200,000
Borrowed money

15* Owner’s Drawing 302 P 10,000

Cash 101 P 10,000
Cash Withdrawal

15* Delivery Van 121 P 680,000

Accounts Payable 201 P 680,000
Bought Delivery Van

16 Accounts Payable 201 P 20,000

Cash 101 P 20,000
Partial Payment

16 Accounts Receivable 103 P 23,000

*
Sales 401 P 23,000
Sold Merchandise
18* Purchases 501 P 8,000
Notes Payable 202 P 8,000
Bought Merchandise

18* Purchases 501 P 18,000

Accounts Payable 201 P 18,000
Bought Merchandise

19* Accounts Receivable 103 P 34,000

Freight-Out 603 P 2,200
Sales 401 P 34,000
Cash 101 P 2,200

19* Purchases 501 P 16,000

Account Payable 201 P 16,000
Purchase Merchandise

20 Accounts Payable 201 P 20,000

Freight-Out 603 P 920
Cash 101 P 17,920
Sales Discount 403 P 3,000

21 Accounts Payable 201 P 10,000

Cash 101 P 10,000
Partial Payment

21 Accounts Payable 201 P 4,000

Sales Returns & Allowances 402 P 4,000
Sales Return

21* Accounts Payable 201 P 2,500

Purchase Returns & Allowances 503 P 2,500
Purchase Returns

23 Accounts Payable 201 P 11,000

Cash 101 P 11,000
Partial Payment

25* Accounts Receivable 103 P 26,000

Sales 401 P 26,000
Sold to Alhambra

26* Sales 401 P 6,000

Note Receivable 102 P 6,000
Receive Notes

27 Cash 101 P 2,000

Accounts Receivable 103 P 2,000
 Received cash

28* Sales Returns & Allowances 402 P 1,200

Cash 101 P 1,200
Gave Cash

29 Accounts Payable 201 P 11,000

Freight Out 603 P 2,200
Cash 101 P 11,700
Sale Discounts 403 P 1,500

29* Purchases 501 P 20,000

Account Payable 201 P 20,000
Purchase Merchandise

30* Owner’s Drawing 302 P 12,000

Cash 101 P 12,000
Cash Withdrawal

30* Prepaid Insurance 107 P 24,000

Cash 101 P 24,000
Paid Insurance

30* Sales Salaries Expense 601 P 12,000

Office Salaries Expense 701 P 15,000
Accounts Payable 201 P 27,000
Paid of Expences

30* Light and Water Expense 706 P 20,500

Cash 101 P 20,500
Utilities Paid

30* Cash 101 P 4,000

Rental Income 802 P 4,000
Rent income

30 Sales 401 P 46,000

Cash 101 P 46,000
Cash Sales

30* Accounts Payable 201 P 20,000

Cash 101 P 19,400
Purchase Discounts 504 P 600
Paid full