Date

Mar-22
1
 KALDAG Merchandising Business
Mar-22

General Journal
Account Title

Cash
Merchandise Inventory
Makiling, Capital
 Mar-22
1

Dr. Cr.

10

12

15

17
18

20

21

23

25
 Transactions

Mr. Makiling invested the following items to his newly opened business:
Cash
Merchandise Inventory

Purchased furniture and fixtures worth as follows:

Purchased equipment.

Sold merchandise to Mr. Swabe Yarn, Riego Holdings, 55% gross profit.
Paid freight.

Sold merchandise on account to MimiKo's, 5/10, 2/15, n/10.

Paid freight.

Purchased goods on account from The Best Supplier E.M.E., 5/10 n/10.
Paid freight.

Received 45% of payment from MimiKo.

Sold merchandise on account to Oishilicious, 5/10, 2/15, n/10.

Paid freight.

Sold equipment to BalikanMoNaKo Inc.

The company paid the following:

Taxes and licenses
Prepaid advertising for 3 months
Prepaid rent for 1 fiscal year

Paid 70% of the goods purchased from The Best Supplier E.M.E.

Received the rest of the payment from the merchandise sold to MimiKo.

Received full settlement of account from Oishilicious.

Bought equipment from ILY300 on credit, 3/5 n/10.

Paid salary to employees.

Paid the rest of the partial payment to The Best Supplier E.M.E.

Sold merchandise to Rixhie Paltatensyon Ltd.

Sold furniture and fixtures.

Purchased goods from k4p4g0d on credit, 5/10 n/10.

Paid equipment bought from ILY300.

Sold merchandise for cash to Mr. Swabe.

Paid credit to k4p4g0d.

 Chart of Accounts
Cash
Amount Accounts Receivable
Merchandise Inventory
200,000 Prepaid Advertising
50,000 Prepaid Rent
Furniture and Fixture
15,000 Office Equipment
25,000 Long-term Investment
Makiling, Capital
30,000 Makiling, Withdrawal
1,200 Freight-In
Freight-Out
10,000 Accounts Payable
800 Taxes and Licenses
Salary Expenses
100,000
3,000

80,000
2,000

25,000

12,000
24,000
60,000

17,500

20,000

50,800
 5,000

50,000

55,000