SHOPWORK

Directions: Record the following transactions in their corresponding journals.

June 1 – Ando invested Php50,000 in a grocery store.

2 – In order to begin the business, he purchased store furniture and fixture worth
Php15,000 and was granted 5% discount.
3 – Purchased merchandise amounting to Php30,000 from ABC Company. Terms:
Php10,000 down payment and the balance, 3/15, n/30.
4 – Rent for June was paid, Php3,000.
7 – Sales for the first week of June totaled Php28,000; Php12,000 on credit (3/15, n/30)
and the remainder was cash sales. Gina Lim purchased Php4,000 of the credit sales
and Lorna Lee purchased the remainder.
8 – Paid salaries of the store helpers, Php1,000.
9 – To replenish the stocks, Ando purchased merchandise for Php20,000 from DEF
Company. Terms: 2/20, n/60.
11 – Returned Php1,000 worth of damaged goods to DEF Co.
14 – Sales for the week amounted to Php35,000, Php10,000 on credit (3/15, n/30) and
the remainder was cash sales. Of the credit sales, Avic Bilis purchased Php2,000,
Precy Due purchased Php5,000, and Nona Hao, Php3,000.
15 – Paid salaries of store helpers, Php1,000.
18 – Gave a customer a Php250-cash refund for the defective merchandise returned to
us.
19 – Purchased store supplies on credit. Terms: n/30. The supplies, costing
Php3,000, were purchased from the Cree Store.
21 – Collected the amount due from Gina Lim.
22 – Cash sales for the week Php20,000. Al Bilton purchased Php7,500 worth of
merchandise from us. Terms: 3/15, n/30.
24 – Paid salaries of store helpers, Php1,000.
28 – Collected the amount due from Lorna Lee.
30 – Received and paid the bill from Bagal Freight Company for the delivery of goods
sold, Php750.