Cho Cho's Pro Shop

GENERAL JOURNAL
Date Particulars P.R Debit Credit
April 5 Purchases P 160,600
Input tax 19,272
Accounts Payable P179,872
To record purchases on credit

7 Freight In 8,000
Cash 8,000
To record freight paid

9 Accounts Payable 22,400

Purchase Returns and Allowances 20,000
Input Tax 2,400
To record merchandise returned

10 Accounts Receivable 10,080

Sales 9,000
Output Tax 1,080
To record sales on credit

11 Purchases 66,000
Input Tax 7,920
Accounts Payable 73,920
To record purchases on credit

14 Accounts Payable 157,472

Cash 154,322.56
Purchase Discounts 2,812
Input Tax 337.44
To record payment on account

16 Accounts Payable 6,720

Purchase Returns and Allowances 6,000
Input Tax 720
To record merchandise returned

20 Accounts Receivable 41,440

Sales 37,000
Output Tax 4,440
To record sales on credit

21 Accounts Payable 67,800

Cash 60,000
 Purchase Discount 600
Input Tax 72
To record cash received

27 Sales Returns and Allowances 3,000

Output tax 360
Accounts Receivable 3,360
To record sales returned

30 Cash 67,200
Sales 60,000
Output Tax 7,200
To record cash sales

30 Cash 19,100
Accounts Receivable 19,100
To record cash received
 101 Cash 112 Accounts Receivable
beg. ₱ 250,500.00 ₱ 8,000.00 ₱ 10,080.00
67,200 154,322.56 41,440
19,100 66,528 51,520
336,800 228,850.56 ₱ 29,060.00
₱ 107,949.44

301 C. Ramos Capital 401 Sales

₱ 551,000.00

512 Purchase Returns & Allowances 514 Purchase Discounts

₱ 20,000.00 9
6,000
₱ 26,000.00

Output Tax Input Tax

₱ 360.00 ₱ 1,080.00 10 ₱ 23,662.56
4,440 ₱ 11,302.56
7,200
360 12,720
₱ 12,360.00
Accounts Receivable 120 Merchandise Inventory
₱ 3,360.00 beg. ₱ 300,500.00 9
19,100
22,460

Sales 412 Sales Returns & Allowances

₱ 9,000.00 beg. ₱ 3,000.00 5
37,000 10 11
60,000
₱ 106,000.00

Purchase Discounts 516 Freight-In

₱ 2,812.00 9 7 ₱ 8,000.00 5
600
₱ 3,412.00

Input Tax
₱ 12,360.00
201 Accounts Payable
₱ 22,400.00 ₱ 179,872.00 5
157,472 73,920 11
6,720
67,200
253,792 253,792
₱ -

501 Purchases
₱ 160,600.00
66,000
₱ 226,600.00

Input Tax
₱ 19,272.00 ₱ 2,400.00 9
7,920 337.44 11
720
72
27,192 3,529.44
₱ 23,662.56
 Cho Cho's Pro Shop
Trial Balance
As of April 30, 2008

Account Titles Debit Credit

Cash ₱ 107,949.44
Accounts Receivable 29,060
Merchandise Inventory 300,500
Input Tax 11,302.56
Accounts Payable ₱ -
C. Ramos Capital 551,000
Sales 106,000
Sales Returns & Allowances 3,000
Purchases 226,600
Purchase Returns & Allowances 26,000
Purchase Discounts 3,412
Freight-In 8,000
TOTAL ₱ 686,412.00 ₱ 686,412.00