GENERAL JOURNAL

DATE ACCOUNT TITLES AND EXPLANATION F DEBIT

2022
Aug-01 Cash 5,000,000
PreFiCient Merchandising, Capital

2 Office Supplies 100,000

Accounts Payable

3 Office Equipment 150,000

Accounts Payable

4 Rent 30,000
Cash

4 Office Supplies 100,000

Cash

5 Purchases - Montes' Company 150,000

Accounts Payable

5 Delivery Expense 2,500

Cash

5 Office Equipment 150,000

Cash

6 Furnitures and Fixtures 50,000

Cash

6 Accounts Payable - Montes' Company 20,000

Purchases Return and Allowances

7 Purchases - Artiaga's Company 390,000

Accounts Payable

7 Delivery Expense 2,500

Cash

8 Accounts Payable - Artiaga's Company 50,000

Purchases Return and Allowances

9 Purchases - Resterio's Company 150,000

 Accounts Payable

9 Delivery Expense 2,500

Cash

10 Accounts Receivable - Monroe's Company 500,000

Sales

11 Accounts Payable - Resterio's Company 25,000

Purchases Return and Allowances

11 Sales Return and Allowances - Monroe's Company 25,000

Accounts Receivable

12 Accounts Receivable - Miller's Company 600,000

Sales

12 Accounts Receivable - Zapanta's Company 700,000

Sales

13 Sales Return and Allowances - Miller's Company 100,000

Accounts Receivable

13 Accounts Payable - Montes' Company 130,000

Cash
Purchase Discount

14 Sales Return and Allowances - Zapanta's Company 125,000

Accounts Receivable

15 Services Expenses 7,500

Cash

16 PreFiCient Merchandising, drawing 150,000

Cash

16 Accounts Payable - Artiaga's Company 340,000

Cash
Purchase Discount

17 Accounts Payable - Resterio's Company 125,000

Cash
Purchase Discount

18 Cash - Monroe's Company 451,250

 Sales Discount 23,750
Accounts Receivable

19 Cash - Miller's Company 475,000

Sales Discount 25,000
Accounts Receivable

20 Cash - Zapanta's Company 546,250

Sales Discount 28,750
Accounts Receivable

30 Salary 60,000
Cash

30 Utility Expense 30,000

Cash
page 1

CREDIT In August of the current year, PreFiCient Company began a business they called “PreFiCient Merc

August 01 - Invested P5,000,000 to start the business.

5,000,000

02 - Purchased an Office Supplies for P100,000 on account to Wicker's Supplies Shop

100,000

03 - Purchased an Office Equipment for P150,000 on account to Montero's Equipment Shop

150,000

04 - Paid the Rent Expense for the month of August amounting to P30,000
30,000

04 - Paid the Office Supplies to Wicker's Supplies Shop, P100,000

100,000

05 - Purchased merchandise to Montes' Company with a total amount of P150,000 on accoun

150,000

05 - Paid the Delivery Expense of the purchase transaction to Montes' Company amounting to
2,500

05 - Paid the Office Equipment Montero's Equipment Shop, P150,000

150,000

06 - Purchased a set of Furnitures to S. Moreno Furnitures Shop in the amount of P50,000

50,000

06 - Returned a total amount of P20,000 merchandise to Montes' Company

20,000

07 - Purchased merchandise to Artiaga's Company with a total amount of P390,000 on accou

390,000

07 - Paid the Delivery Expense of the purchase transaction to Artiaga's Company amounting t
2,500

08 - Returned a total amount of P50,000 merchandise to Artiaga's Company

50,000

09 - Purchased merchandise to Resterio's Company with a total amount of P150,000 on acco

150,000

09 - Paid the Delivery Expense of the purchase transaction to Resterio's Company amounting
2,500

10 - Sold merchandise to Monroe's Company in the amount of P500,000 on account, terms a

500,000

11 - Returned a total amount of P25,000 merchandise to Resterio's Company

25,000

11 - Monroe's Company returned a total amount of P25,000 merchandise

25,000

12 - Sold merchandise to Miller's Company in the amount of P600,000 terms are 5/10, n/30
600,000

12 - Sold merchandise to Zapanta's Company in the amount of P700,000 terms are 5/10, n/3
700,000

13 - Miller's Company returned a total amount of P100,000 merchandise

100,000

13 - Paid purchase transaction to Montes' Company in cash terms are 5/10, n/30
123,500
6,500

14 - Zapanta's Company returned a total amount of P125,000 merchandise

125,000

15 - Paid the Delivery Services by Montemayor's Trucking in the amount of P7,500

7,500

16 - Withdrew P 150,000 for personal expenses.

150,000

16 - Paid purchase transaction to Artiaga's Company in cash terms are 5/10, n/30
323,000
17,000

17 - Paid purchase transaction to Resterio's Company in cash terms are 5/10, n/30
118,750
6,250

18 - Received the payment of Monroe's Company sales transaction in cash, terms are 5/10, n
475,000

19 - Received the payment of Miller's Company sales transaction in cash, terms are 5/10, n/3

500,000

20 - Received the payment of Zapanta's Company sales transaction in cash, terms are 5/10, n

575,000

30 - Paid the salary of two sales person in the amount of P60,000

60,000

30 - Paid the light and power bill in the amount of P35,000

30,000
ness they called “PreFiCient Merchandising” and completed the following transactions during the month:

o Wicker's Supplies Shop

t to Montero's Equipment Shop

ting to P30,000

al amount of P150,000 on account terms are 5/10, n/30

o Montes' Company amounting to P2,500

op in the amount of P50,000

ontes' Company

tal amount of P390,000 on account terms are 5/10, n/30

o Artiaga's Company amounting to P2,500

tiaga's Company

otal amount of P150,000 on account terms are 5/10, n/30

o Resterio's Company amounting to P2,500

of P500,000 on account, terms are 5/10, n/30

sterio's Company

merchandise

P600,000 terms are 5/10, n/30

of P700,000 terms are 5/10, n/30

merchandise

terms are 5/10, n/30

00 merchandise

the amount of P7,500

terms are 5/10, n/30

h terms are 5/10, n/30

saction in cash, terms are 5/10, n/30

ction in cash, terms are 5/10, n/30

saction in cash, terms are 5/10, n/30

Account Name: Cash
Account Code: 101
Balance
Date Particulars F Debit Credit Debit Credit
Aug-01 investment 5,000,000
rent 30,000 4,970,000
supplies 100,000 4,870,000
delivery 2,500 4,867,500
equipment 150,000 4,717,500
furnitures and fixtures 50,000 4,667,500
delivery 2,500 4,665,000
delivery 2,500 4,662,500
payment 123,500 4,539,000
service 7,500 4,531,500
drawing 150,000 4,381,500
payment 323,000 4,058,500
payment 118,000 3,940,500
income 451,250 4,391,750
income 475,000 4,866,750
income 546,250 5,413,000
salary 60,000 5,353,000
utility 30,000 5,323,000

Account Name: Accounts Receivable

Account Code: 102
Balance
Date Particulars F Debit Credit Debit Credit
Aug-10 sales 500,000
sales return 25,000 475,000
sales 600,000 1,075,000
sales 700,000 1,775,000
sales return 100,000 1,675,000
sales return 125,000 1,550,000
payment 475,000 1,075,000
500,000 575,000
575,000 0

Account Name: Supplies

Account Code: 103
Balance
Date Particulars F Debit Credit Debit Credit
Aug-02 Supplies GJ1 100,000 100,000
Supplies 100,000 200,000

Account Name: Equipment

Account Code: 104
Balance
Date Particulars F Debit Credit Debit Credit
Aug-03 Equipment 150,000 150,000
Equipment 150,000 300,000

Account Name: Furnitures and Fixtures

Account Code: 105
Balance
Date Particulars F Debit Credit Debit Credit
Aug-06 Furnitures and Fixtures 50,000 50,000

Account Name: Sales Return and Allowances

Account Code: 106
Balance
Date Particulars F Debit Credit Debit Credit
Aug-11 Sales Return and Allowances 25,000 25,000
Sales Return and Allowances 100,000 125,000
Sales Return and Allowances 125,000 250,000

Account Name: Sales Discount

Account Code: 107
Balance
Date Particulars F Debit Credit Debit Credit
Aug-06 payment 23,750 23,750
payment 25,000 48,750
payment 28,750 77,500
Account Name: Accounts Payable
Account Code: 201
Balance
Date Particulars F Debit Credit Debit
Aug-02 supplies 100,000
equipment 150,000
purchases 150,000
purchases return and allowances 20,000
purchases 390,000
purchases return and allowances 50,000
purchases 150,000
purchases return and allowances 25,000
payment 130,000
payment 340,000
payment 125,000

Account Name: Purchase Return and Allowances

Account Code: 202
Balance
Date Particulars F Debit Credit Debit
Aug-06 Purchase Return and Allowances 20,000
Purchase Return and Allowances 50,000
Purchase Return and Allowances 25,000

Account Name: Purchase Discount

Account Code: 203
Balance
Date Particulars F Debit Credit Debit
Aug-13 payment 6,500
payment 17,000
payment 6,250

Account Name: PreFiCient Merchandising, Capital

Account Code: 301
Balance
Date Particulars F Debit Credit Debit
Aug-01 investment 5,000,000

Account Name: PreFiCient Merchandising, drawing

Account Code: 301
Balance
Date Particulars F Debit Credit Debit
Aug-16 drawing 150,000
 Account Name: Rent Expense
Account Code: 401
Balance Balance
Credit Date ParticularsF Debit Credit Debit Credit
100,000 Aug-04 rent 30,000 30,000
250,000
400,000 Account Name: Delivery Expense
380,000 Account Code: 402
770,000 Balance
720,000 Date ParticularsF Debit Credit Debit Credit
870,000 Aug-05 Delivery 2,500 2,500
845,000 delivery 2,500 5,000
715,000 delivery 2,500 7,500
375,000
250,000 Account Name: Service Expense
Account Code: 403
Balance
Date ParticularsF Debit Credit Debit Credit
Balance Aug-15 Service 7,500 7,500
Credit
20,000 Account Name: Salary Expense
70,000 Account Code: 404
95,000 Balance
Date ParticularsF Debit Credit Debit Credit
Aug-30 Salary 60,000 60,000

Balance Account Name: Utility Expense

Credit Account Code: 405
6,500 Balance
23,500 Date ParticularsF Debit Credit Debit Credit
29,750 Aug-30 Utility 30,000 30,000

Balance
Credit
5,000,000

Balance
Credit
150,000
 PreFiCient Merchandising
Trial Balance
September 1, 2022

Account
Code Account Titles Debit Credit
Cash 5,323,000
Accounts Receivable 0
Supplies 200,000
Equipment 300,000
Furnitures and Fixtures 50,000
Sales Discount 77,500
Sales Return 250,000
Accounts Payable 250,000
Purchase Discount 29,750
Purchase Return 95,000
PreFiCient Merchandising, Capital 5,000,000
PreFiCient Merchandising, drawing 150,000
Rent Expense 30,000
Delivery Expense 7,500
Service Expense 7,500
Salary Expense 60,000
Utility Expense 30,000
Account N Accounts Receivable
Account Co 102
Balance
Date ParticularsF Debit Credit Debit Credit
Aug-10 sales 500,000
sales return 25,000 475,000
sales 600,000 1,075,000
sales 700,000 1,775,000
sales return 100,000 1,675,000
sales return 125,000 1,550,000
payment 475,000 1,075,000
500,000 575,000
575,000 0

Account N Supplies
Account Co 103
Balance
Date ParticularsF Debit Credit Debit Credit
Aug-02 Supplies GJ1 100,000 100,000
Supplies 100,000 200,000

Account N Equipment
Account Co 104
Balance
Date ParticularsF Debit Credit Debit Credit
Aug-03 Equipment 150,000 150,000
Equipment 150,000 300,000

Account N Furnitures and Fixtures

Account Co 105
Balance
Date ParticularsF Debit Credit Debit Credit
Aug-06 Furnitures and Fixtur 50,000 50,000

Account N Sales Return and Allowances

Account Co 106
Balance
Date ParticularsF Debit Credit Debit Credit
Aug-11 Sales Return and All 25,000 25,000
Sales Return and All 100,000 125,000
Sales Return and All 125,000 250,000

Account N Sales Discount

Account Co 107
Balance
Date ParticularsF Debit Credit Debit Credit
Aug-06 payment 23,750 23,750
payment 25,000 48,750
payment 28,750 97,500