1.

Solution:
Unadjusted balance 260,000
(a) 11,000
(b) 5,000
(c) (16,000)
Chapter
(d) 7 Interm 1A SOL MAN Millan
20,000
(e) (4,000)
Correct inventory 276,000

2. Solution:
(a) Inventory (140,000 x 98%) 137,200
Accounts payable 137,200

(b) Accounts payable (137.2K x 75%) 102,900

Cash 102,900

(c) Accounts payable (137.2K x 25%) 34,300

Purchase discount lost (140K x 2% x 25%) 700
Cash (140,000 x 25%) 35,000

3. Solution:
June 11 Purchases (.98 × ₱9,000) 8,820
Accounts Payable 8,820
15 Accounts Payable (.98 × ₱1,000) 980
Purchase Returns and Allowances 980
30 Purchase Discounts Lost (.02 × ₱8,000) 160
Accounts Payable 160

4. Solution:
Requirement (a):
Purchases 196,000
Accounts Payable 196,000