JOURNAL ENTRY

PERIODIC DEBIT CREDIT

DATE
Marc
h
2 Purchase 74, 000
Accounts Payable 74, 000
3 Accounts Receivable 10, 000
Sales 10,000
5 Cash 7, 000
Sales 7, 000
6 Purchase 42, 000
Accounts Payable 42, 000
7 Freight In 570
Accounts Payable 570
9 Accounts Receivable 38, 000
Sales 38, 000
10 Purchase 26, 000
Freight In 500
Accounts Payable 26, 500
11 Freight Out/Delivery Expense 291
Accounts Payable 291
12 Accounts Payable 74, 000
Cash 72, 520
Purchase Discount 1, 480
13 Cash 9, 900
Sales Discount 100
Accounts Receivable 10, 000
14 Accounts Payable 21, 000
Cash 20, 580
Purchase Discount 420
15 Accounts Payable 3, 000
Purchase Returns 3, 000
and Allowances
16 Office Supplies 4, 780
Accounts Payable 4, 780
17 Cash 18, 810
Sales Discount 190
Accounts Receivable 19, 000
18 Accounts Payable 23, 500
Cash 23, 040
Purchase Discount 460
19 Accounts Receivable 7, 800
Sales 7, 800
 20 Accounts Payable 1, 280
Office Supplies 1, 280
22 Sales Returns and Allowance 1, 800
Accounts Receivable 1, 800
25 Accounts Payable 3, 500
Cash (4, 780-1, 280) 3, 500
26 Accounts Payable 861
Cash 861
27 Cash 5, 880
Sales Discount 120
Accounts Receivable 6, 000
28 Accounts Payable 21, 000
Cash 21, 000
31 Cash 9, 730
Sales 9, 730

T- Accounts (PERIODIC)

CASH ACCOUNTS PAYABLE

DEBIT CREDIT DEBIT CREDIT

March 5 7, 000 March 12 72, 520 March 12 74, 000 March 2 74, 000
13 9, 900 14 20, 580 14 21, 000 6 42, 000
17 18, 810 18 23, 040 15 3, 000 7 570
27 5, 880 25 3, 500 18 23, 500 10 26, 500
31 9, 730 26 861 20 1, 280 11 291
28 21, 000 25 3, 500 16 4, 780
51, 320 141, 501 26 861
(141, 501) (141, 501) 28 21, 000
P -90, 181 -0- 148, 141 148, 141
(148, 141) (148, 141)
-0- -0-

OFFICE SUPPLIES PURCHASE

DEBIT CREDIT DEBIT CREDIT

March 16 4, 780 March 20 1, 280 March 2 74, 000
(1, 280) (1, 280) 6 42, 000
P 3, 500 -0- 10 26, 000
P 142, 000
 PURCHASE DISCOUNT SALES
DEBIT CREDIT DEBIT CREDIT
March 12 1, 480 March 3 10, 000
14 420 5 7, 000
18 460 9 38, 000
P2, 360 19 7, 800
31 9, 730
P72, 530

FREIGHT OUT/DELIVERY EXPENSE PURCHASE RETURNS AND ALLOWANCE

DEBIT CREDIT DEBIT CREDIT
March 11 P 291 March 15 P3,000

ACCOUNTS RECEIVABLE SALES RETURNS AND ALLOWANCE

DEBIT CREDIT DEBIT CREDIT
March 3 10, 000 March 13 10, 000 March 22 P1 , 800
9 38, 000 17 19, 000
19 7, 800 22 1, 800
27 6, 000
55, 800 36, 800
(36, 800) (36, 800) SALES DISCOUNT
P19, 000 -0-
DEBIT CREDIT
March 13 100
17 190
27 120
FREIGHT IN P 410
DEBIT CREDIT
March 7 570
10 500
P1, 070