General Journal

Date Particulars F Debit Credit

Oct 1 Cash on Hand P40,000
Cash in Bank 60,000
K. Bautista, Capital P100,000
Investment

2 Cash on Hand (20,000-300) 19,700

Interest Expense (20,000 x 60/360 x .09) 300
Notes Payable 20,000
Discounted or note with Metro Bank

3 Office Equipment 10,000

Notes Payable 10,000
Issued a 30 day 12 % promissory note

4 Utilities Expense 3,000

Cash on Hand 3,000
Paid Utilities

5 Accounts Receivable 25,000

Service Revenue 25,000
Service Rendered

6 Office Supplies 15,000

Cash on Hand 3,000
Accounts Payable 12,000
2/10, n/30 terms 20% down balance

7 Accounts Payable 1,000

Office Supplies 1,000
Returned Supplies

8 Office Furniture 12,000

Accounts Payable 12,000
2/15, n/30

9 Office Furniture 8,000

Accounts Payable 3,000
K. Bautista, Capital 5,000
Investment of Unused Furniture

10 Notes Receivable 20,000

Service Revenues 20,000
60 day 12 % note
 11 Cash on Hand 40,000
Cash in Bank 60,000
Service Revenue 100,000
Service Rendered

12 K. Bautista, Drawing 9,000

Office Supplies 1,000
Cash on Hand 8,000
Withdrawal

13 Cash in Bank 25,000

Accounts Receivable 25,000
Collection of Bautista’s account

14 Rent Expense 10,000

Cash in Bank 10,000
Paid Rent by check

15 Salaries Expense 50,000

Cash on Hand 50,000
Paid Salaries

16 Accounts Payable 11,000

Cash on Hand ( 11,000 – 220 ) 10,780
Office Supplies ( 11,000 x 2% ) 220
Paid in full our supplies account

17 Accounts Payable 5,000

Cash on Hand 5,000
Partial Payment

18 Cash on Hand 20,000

Cash in Bank 20,000
Withdrawal

24 Accounts Payable 7,000

Cash on Hand 7,000
Paid in full our furniture account

30 Salaries Expense 50,000

Cash on Hand 50,000

Nov 2 Notes Payable 10,000

Interest Expense (10,000 x 30/360 x 12% ) 100
Cash in Hand 10,100
Paid our note
 30 Notes Payable 20,000
Cash on Hand 20,000
Paid our note

Dec 9 Cash on Hand 20,000

Notes Receivable 20,000
Interest Income (20,000 x 60/360 x 12%)
Collected the note of Jim Corporation

SANTOS, MEDELYN B.
BAA