Date Particulars Dr. Cr.

Jul-01 Cash 50,000

Paul Brite, Capital 50,000
To record initial investment

Jul-03 Shop Supplies 3,500

Cash 3,500
To record purchase of supplies

Jul-05 Repair Enquipment 20,000

Accounts Payable 20,000
To record purchase of repair equipment

Jul-08 Cash 12,000

Repair Service 12,000
To record payment of repair service

Jul-10 Accounts Payable 15,000

Cash 15,000
To record partial payment

Jul-12 Accounts Receivable 14,000

Repair Service 14,000
To record billed on account

Jul-14 Rent Expense 6,000

Cash 6,000
To record payment of rent

Jul-17 Cash 8,000

Accounts Receivable 8,000
To record the collected payment

Jul-19 Salaries Expense 4,000

Cash 4,000
To record payment of salaries

Jul-22 Shop Supplies 7,500

Cash 3,000
Accounts Payable 4,500
To record additional shop supplies

Jul-25 Cash 4,500

Accounts Receivable 4,500
Repair Service 9,000

Jul-28 Supplies Expense 6,500

 Cash 6,500
To record payment of supplies

Jul-31 Paul Brite, Drawing 10,000

Cash 10,000
To record Paul Brite withdrawal
 CASH Accounts Receivables
Jul-1 ₱ 50,000 Jul-3 ₱ 3,500 Jul-12 ₱ 14,000 Jul-17 8,000
Jul-8 12,000 Jul-10 15,000 Jul-25 4,500
Jul-17 8,000 Jul-14 6,000 18,500 8,000
Jul-25 4,500 Jul-19 4,000
Jul-28 6,500 10,500
Jul-31 10,000
Jul-22 3,000
74,500 48,000
26,500

Paul Brite, Capital Paul Brite, Drawing

Jul-1 50,000 Jul-31 10,000

50,000 10,000

Shop Supplies Supplies Expense

Jul-3 3,500 Jul-28 6,500
Jul-22 7,500
11,000 6,500

11,000
 Repair Equipment Repair Serviice
Jul-5 20,000 Jul-8 12,000
Jul-12 14,000
20,000 Jul-25 9,000
35,000

35,000

Salaries Expense Rent Expense

Jul-19 4,000 Jul-14 6,000

4,000 6,000

Accounts Payable
Jul-10 15,000 Jul-5 20,000
jJul-22 4,500
15,000 24,500

9,500
 Asset Liabilities

Cash Accounts Receivable Shop Supplies

Repair Equipment

26,500 10,500 11,000

20,000

68,000
 Liabilities Equity

Account Payable Capital Drawing Repair Service

Rent Expense Salaries Expense Supplies Expense

9,500 50,000 10,000 35,000

6,000 4,000 6,500

9,500 58,500
 Journal Entry
Date Particulars Accout Number Dr. Cr.
Dec. 2 Cash 101 60,000
Nestor Martel, Capital 301 60,000
To record initial investment

4 Prepaid Insurance 105 6,000

Cash 101 6,000
To record one year insurance

6 Furniture and Equipment 108 15,000

Accounts Payable 201 15,000
To record the purchase on account

Dec.8 Office Supplies 106 2,500

Cash 101 2,500
To record the purchase of office supplies

11 Cash 101 60,000

Loans Payable 202 60,000
To record the loan

16 Cash 101 12,500

Fees Earned 401 12,500
To record the legal service

18 Miscellaneous Expense 509 1,000

Cash 101 1,000
To record payment of miscellaneous

20 Cash 101 10,500

Fees Earned 401 10,500
To record the legal service

22 Advertising Expense 503 3,600

Cash 101 3,600
To record payment of advertising

25 Accounts Payable 201 45,000

Cash 101 45,000
To record the partially of Micro System Inc.

26 Cash 101 7,500

Accounts Receivable 102 7,500
To record the collected amount

27 Utilities Expense 504 1,500

 Cash 101 1,500
To record payment of utilities

28 Salaries Expense 501 5,500

Cash 101 5,500
To record payment of salaries

29 Nestor Martel, Withdrawal 302 12,000

Cash 101 12,000
To record Nestor Martle, withdrawal

30 Cash 101 5,000

Fees Earned 401 5,000
To record the legal service
 NESTOR MARTEL LAW OFFICE
TRIAL BALANCE
December 31, 2020

Acc. No. Particulars Dr. Cr. Dr. Cr.

Cash 60,000 2,500 60,000 6,000
12,500 1,000 7,500 2,400
10,500 1,200 45,000
5,000 1,500
5,500
12,000
Accounts Receivable 7,500

Prepaid Insurance 6,000

Prepaid Advertising 2,400
Furniture and Equipment 15,000
Office Supplies 60,000

Accounts Payable 4,500 75,000

Loans Payable 60,000

Capital, Nestor 60,000

Withdrawal, Nestor 12,000
Profit

Fees Earned 28,000

Office Supplies 2,500

Advertising Expense 1,200
Utilities Expense 1,500
Salaries Expense 5,500
Miscellaneous Expense 1,000

Total 111,700 111,700 195,900 195,900

Dr. Cr.
78,400

7,500

6,000
2,400
15,000
60,000

30,000
60,000

60,000
12,000
16,300

173,800 173,800
 CASH N
Balance
Date Item No. Debit Credit Debit Credit Date
Dec.2 101 60,000 60,000 Dec.2
4 101 6,000 54,000
8 101 2,500 51,500
11 101 60,000 111,500
16 101 12,500 124,000
18 101 1,000 123,000
20 101 10,500 133,500
22 101 3,600 129,900
25 101 45,000 84,900
26 101 7,500 92,400
27 101 1,500 90,900
28 101 5,500 85,400
29 101 12,000 73,400
30 101 5,000 78,400

PREPAID INSURANCE FU
Balance
Date Item NO. Debit Credit Debit Credit Date
Dec.4 105 6,000 6,000 Dec.6

ACCOUNTS PAYABLE
Balance
Date Item NO. Debit Credit Debit Credit Date
Dec.6 201 15,000 15,000 Dec.8
25 201 45,000 -30,000

LOANS PAYABLE
Balance
Date Item NO. Debit Credit Debit Credit Date
Dec.11 202 60,000 60,000 Dec.16
20
30
 MISCELLANEOUS EXPENSE
Balance
Date Item NO. Debit Credit Debit Credit Date
Dec.18 509 1,000 1,000 Dec.26

UTILITIES EXPENSE
Balance
Date Item NO. Debit Credit Debit Credit Date
Dec.27 504 1,500 1,500 Dec.28

NESTOR MARTEL, WITHDRAWAL

Balance
Date Item NO. Debit Credit Debit Credit Date
Dec.29 302 12,000 12,000 Dec.22
 NESTOR MARTEL, CAPITAL
Balance
Item No. Debit Credit Debit Credit
301 60,000 60,000

FURNITURE AND EQUIPMENT

Balance
Item NO. Debit Credit Debit Credit
108 15,000 15,000

OFFICE SUPPLIES
Balance
Item NO. Debit Credit Debit Credit
106 2,500 2,500

FEES EARNED
Balance
Item NO. Debit Credit Debit Credit
401 12,500 12,500
401 10,500 23,000
401 5,000 28,000
 ACCOUNTS RECEIVABLE
Balance
Item NO. Debit Credit Debit Credit
102 7,500 7,500

SALARIES EXPENSE
Balance
Item NO. Debit Credit Debit Credit
501 5,500 5,500

ADVERTISING EXPENSE
Balance
Item NO. Debit Credit Debit Credit
503 3,600 3,600