PHINMA UNIVERSITY OF ILOILO

College of Management
BOOKKEEPING ENHANCEMENT

NAME: MARTINEZ, JUVY STEPHANIE A. Course/Year/Section: 2BSA-1 Date: AUGUST 22, 2022
1. Journalizing: (Periodic Inventory Method) GJ- 1
Date Particulars Post Debit Credit
Ref
Nov 1 Cash 110 P 39,000
Jewel Dragon, Capital 300 P 39,000
To record investment in business.

2 Equipment 150 P 10,000

Cash 110 P 10,000
To record purchased equipment.

2 Merchandise Inventory 130 P 15,900

Accounts Payable 210 P 15,900
To record purchased merchandise inventory on
account.

3 Office Supplies 140 P 700

Cash 110 P 700
To record purchased office supplies.

4 Accounts Receivable 120 P 15,200

Sales 410 P 15,200
To record sales on account.

5 Freight Out 610 P 200

Cash 110 P 200
To record freight out paid.

6 Accounts Payable 415 P 300

Purchase Return and Allowances 120 P 300
To record credit received from Cagayan Supply
Company.

11 Accounts Payable 210 P 15,600

Cash 110 P 15,288
Purchase Discount 530 P 312
To record payment of purchases on account.

13 Cash 110 P 14,896

Sales Discount 420 P 304
Accounts Receivable 120 P 15,200
To record collection of sales on account.

14 Merchandise Inventory 130 P 14,400

Cash 110 P 14,400
To record purchased merchandise inventory.

15 Salaries Expense 650 P 1,500

Cash 110 P 1,500
To record salaries expense.
 GJ-2
Date Particulars Post Ref Debit Credit
16 Cash 110 P 12,000
Notes Payable 220 P 12,000
To record borrowed money, signed a promissory note.

17 Cash 110 P 500

Purchase Return and Allowances 520 P 500
To record received refund from supplier.

18 Merchandise Inventory 130 P 14,200

Accounts Payable 210 P 14,200
To record purchased merchandise inventory on account.

20 Freight In 540 P 700

Cash 110 P 700
To record freight in paid

23 Cash 110 P 16,400

Sales 410 P 16,400
To record sales on cash.

26 Merchandise Inventory 130 P 12,300

Cash 110 P 12,300
To record bought merchandise inventory.

27 Accounts Payable 210 P 9,000

Cash 110 P 9,000
To record payment of purchase on account.

28 Jewel Dragon, Drawing 310 P 2,008

Cash 110 P 2,008
To record drawings.

29 Sales Return and Allowances 415 P 900

Cash 110 P 900
To record a refund to cash customers.

30 Accounts Receivable 120 P 13,700

Sales 410 P 13,700
To record sales on account.

30 Advertising Expense 620 P 1,000

Utilities Expense 630 P 400
Rent Expense 640 P 3,500
Salaries Expense 650 P 1,500
Cash 110 P 6,400
To record payment of expenses.