Mr. Laban Deyro opened his laundry business in Iloilo City on January 2, 2016.

The following transactions occurred during the month of January 20, 2020.

DATE TRANSACTIONS
Jan 1 Invested PHP500,000 to his business. The trade name of the business was “MR. LABANDERO"
3 Hired Allan and Allie who will manage his
4 Collections from various customers for the day - PHP3,000
5 Purchase store supplies from Labada Store - PHP10,000
7 Collections from various customers for the day - PHP8,000
8 MR. LABANDERO entered into an exclusive contract with Sikat Hotel where the business will do laundry of the hotel
9 Sikat Hotel availed the services of MR. LABANDERO amounting to PHP15,000. Payment will be made on January 20, 2016.
10 Collections from various customers for the day - PHP 12,000
12 Purchase a washing machine amounting to PHP50,000
15 Collections from various customers for the day - PHP 20,000
19 Paid electricity bill for the mon th amounting to PHP 18,000
20 Received payment from Sikat Hotel amounting to PHP15,000
21 Paid salaries of Allan and Allie - PH 15,000
22 Mr. Laban Deyro needed money for the hospitalization of his son. He withdrew PHP18,000 from the business
25 Paid airfare ticket of PHP1,500 for the travel of Mr. Deyro to Manila to negotiate a contract with Sosyal Hotel
26 Paid taxes to the City of Iloilo, PHP 4,000
27 Purchased office supplies amounting to PHP12,500
28 Collections from various customer for the day - PHP5,000
29 Sosyal Hotel availed the services of MR. LABANDERO amounting to PHP15,000 payable on Feb 25, 2020
month of January 20, 2020.

0
 General Journal
Date Account Title and Explanation

Jan 1 Cash
Capital
To record investment of capital in the business

Jan 4 Cash
Service Revenue/Income
To record service revenue/income

Jan 5 Store supplies

Cash
To record the purchasing of supplies

Jan 7 Cash
Service Revenue/Income
To record service revenue/income

Jan 9 Accounts Receivable

Service Revenue
Rendered service on account

Jan 10 Cash
Service Revenue
To record service revenue/income

12 Equipment
Cash
To record purchase of equipment

15 Cash
Service Revenue
To record service revenue/income

19 Electricity Bills Expense

Cash
To record payment for electricity bills

20 Cash
Accounts Receivable
To record payment of accounts receivable
21 Salaries Expense
Cash
To record payment of salaries expense

22 Deyro, Drawings
Cash
To record withdrawal of cash

25 Travel Expense
Cash
To record travel expense

26 Tax
Cash
To record payment of tax

27 Office Supplies
Cash
To record purchasing of supplies

28 Cash
Service Revenue
To record service revenue

29 Accounts Receivable
Service Revenue
Rendered service on account
 GJ1
Ref # Debit Credit

PHP 500,000.00
PHP 500,000.00

PHP 3,000.00
PHP 3,000.00
DEBIT CREDIT
Assets Liablity
PHP 10,000.00 Drawings Revenue
PHP 10,000.00 Expenses Equity

PHP 8,000.00
PHP 8,000.00

PHP 15,000.00
PHP 15,000.00

PHP 12,000.00
PHP 12,000.00

PHP 50,000.00
PHP 50,000.00

PHP 20,000.00
PHP 20,000.00

PHP 18,000.00
PHP 18,000.00

PHP 15,000.00
PHP 15,000.00
PHP 15,000.00
PHP 15,000.00

PHP 18,000.00
PHP 18,000.00

PHP 1,500.00
PHP 1,500.00

PHP 4,000.00
PHP 4,000.00

PHP 12,500.00
PHP 12,500.00

PHP 5,000.00
PHP 5,000.00

PHP 15,000.00
PHP 15,000.00
 Asset
Cash Store supplies Office supplies
1 ₱500,000.00
4 ₱3,000.00
5 -₱10,000.00 ₱10,000.00
7 ₱8,000.00
8
9
10 ₱12,000.00
12 -₱50,000.00
15 ₱20,000.00
19 -₱18,000.00
20 ₱15,000.00
21 -₱15,000.00
22 -₱18,000.00
25 -₱1,500.00
26 -₱4,000.00
27 -₱12,500.00 ₱12,500.00
28 ₱5,000.00
29
₱434,000.00 ₱10,000.00 ₱12,500.00
Asset = Liabilities + Eq
Equipment Accounts Receivable Capital Revenue/Income
₱500,000.00
₱3,000.00

₱8,000.00

₱15,000.00 ₱15,000.00
₱12,000.00
₱50,000.00
₱20,000.00

-₱15,000.00

₱5,000.00
₱15,000.00 ₱15,000.00
₱50,000.00 ₱15,000.00 ₱500,000.00 ₱78,000.00
₱521,500.00 ₱521,500.00
 Equity
Drawings Salaries ExpensTax Expense Travel Expense Electricity Bills Expense

₱18,000.00

₱15,000.00
₱18,000.00
₱1,500.00
₱4,000.00

₱56,500.00
parking space