GENERAL JOURNAL

PAGE NUMBER : GJ-1

CURRENT JOURNAL ENTRIES
DATE DESCRIPTION REF DEBIT CREDIT
June 1 Cash 101 Php 66,000
Cassidy, Capital 310 66,000

2 Equipment 150 12,000

Cash 101 12,000

4 Merchandise Inventory 120 16,500

Accounts Payable 210 16,500
*2/10, n/30

4 Supplies 130 500

Cash 101 500

5 Accounts Receivable 110 17,500

Merchandise Inventory 120 17,500
*2/10, n/30 FOB Destination

6 Freight Out 504 300

Cash 101 300

7 Sales Returns & Allowances 502 500

Cash 101 500

13 Accounts Payable 210 16,500

Cash 101 16,170
Purchase Discounts 503 330
*payment made within 10 days, 2% discount

14 Cash 101 17,150

Sales Discounts 403 350
Accounts Receivable 110 17,500
*payment made within 10 days, 2% discount

15 Merchandise Inventory 120 14,000

Cash 101 14,000

Salaries Expense 525 3,000

Cash 101 3,000

17 Cash 101 18,000

Notes Payable 220 18,000
18 Cash 101 450
Purchase Returns & Allowances 502 450

20 Merchandise Inventory 120 15,500

Accounts Payable 210 15,500
*FOB shipping point 2/10, n/30

21 Freight In 504 600

Cash 101 600

22 Cash 101 40,200

Merchandise Inventory 120 40,200

25 Merchandise Inventory 120 16,400

Cash 101 16,400

27 Accounts Payable 210 10,000

Cash 101 10,000
*no discount on partial payment

29 Cassidy, Drawings 320 3,006

Cash 101 3,006

Sales Returns & Allowances 402 700

Cash 101 700

30 Accounts Receivable 110 14,800

Merchandise Inventory 120 14,800
*n/30

Advertising Expense 510 2,000

Rent Expense 520 2,500
Utilities Expense 530 600
Salaries Expense 525 2,500
Cash 101 7,600

Merchandise Inventory 120 15,000

Cash 101 15,000
16,500
2%
330
16,170

17,500
2%
350
17,150