JOURNAL ENTRIES:

DATE ACCOUNT TITLES AND EXPLANATION DR. CR.

Jul 1 Cash 100,000
Furniture 22,500
Benjo, Capital 122,500
Invested cash and furniture for business.

Jul 3 Security deposit 30,000

Cash 30,000 3
Deposited cash for rent with Robinson's Realty.

Jul 5 Supplies 5,000

Cash 5,000
Paid for business brochures and calling cards.

Jul 6 Office equipment 12,500

Accounts Payable 12,500
Bought office equipment on account.

Jul 8 Office supplies 1,500

Cash 1,500
Bought office supplies for cash.

Jul 10 Cash 3,000

Service revenue 3,000
Processed travel papers for Mr. And Mrs. Adams.

Jul 11 Passport and other document fees expense 1,200

Cash 1,200
Paid for passport and other document fees.

Jul 12 Cash 5,000

Commission revenue 5,000
 Earned commission from the airline and hotel.

Jul 13 No journal entry

Jul 14 Accounts receivable 15,000

Service revenue 15,000
Processed travel papers of DLSU professors.

Jul 15 Commission receivable 10,000

Commission revenue 10,000
Earned commission on Philippine Airlines.

Jul 16 Salaries expense 12,500

Cash 12,500
Paid salaries of employees.

Jul 18 Transportation expense 1,500

Cash 1,500
Paid processing papers.

Jul 19 Benjo, withdrawal 1,500

Cash 1,500
Withdrew cash in anticipation of profits.

Jul 20 Passport and other document fees expense 7,500

Cash 7,500
Paid passport and other document fees.

Jul 24 Cash 5,000

Commission receivable 5,000
Collected receivables from Philippine Air Lines.
Jul 27 Accounts receivable 10,000
Service revenue 10,000
Processed papers of Golden Talent Agency.

Jul 30 Utilities expense 7,500

Salaries expense 12,500
Cash 20,000
Paid cash for utilities expense for PLDT and Meralco and salaries expense for employees.