Date Account titles and explanations Pr Debit Credit

January 1 Cash 101 ₱50,000

W. Adams, Capital 301 ₱50,000
Initial Investment

2 Rent Expense 514 ₱2,500

Cash 101 ₱2,500
Payment for rent in advance

5 Office Equipment 141 ₱14,000

Accounts Payable 202 ₱14,000
Purchase equipment on account

6 Art Equipment 151 ₱2,700

Cash 101 ₱2,700
Payment for art equipment

7 Supplies 121 ₱1,050

Cash 101 ₱1,050
Payment for supplies

10 Office Cleaning Expense 511 ₱500

Cash 101 ₱500
Issued check for cleaning service

12 Cash 101 ₱3,600

Accounts Receivable 111 ₱1,400
Fees Income 401 ₱5,000
Rendered service in cash and on account

15 Cash 101 ₱300

Supplies 121 ₱300
Returned supplies

18 Office Equipment 141 ₱2,500

Cash 101 ₱1,500
Accounts Payable 202 ₱1,000
Purchased equipment

20 Accounts Payable 202 ₱14,000

Cash 101 ₱14,000
Payment for acquired equipment

26 Accounts Receivable 111 ₱3,900

 Fees Income 401 ₱3,900
Rendered service on account

27 Telephone Expense 520 ₱275

Cash 101 ₱275
Payment for telephone

30 Cash 101 ₱3,200

Accounts Receivable 111 ₱3,200
Received payment from customer

Utilities Expense 523 ₱350

Cash 101 ₱350
Mailed check for utility payment

Salaries Expense 517 ₱7,500

Cash 101 ₱7,500
Issued check for salaries