Mrs. Hiezel Getalia decided to establish a business in the locality.

Ms. Jevy Suerte started to have a sari-sari store business wholesale and retail.The trans

DATE TRANSACTIONS
Oct.1 Ms. Suerte invested P500,000 cash in the business.
Oct.2 Sold inventory fo cash, 200,000.
Oct.3 Purchased office supplies 5,000.
Oct.4 Received 25,000 from customer
Oct.5 Paid 3,000 cash fro utilities expense.
0ct.6 Paid 14,000 fro salaries expense.
Oct.7 Purchase office supplies 10,000 on credit.
Oct.8 Sold goods to a customer on account. The goods worth 15,000.
Oct.9 Purchase equipment for use in business worth 100,000, paid the half price on cash and the left amount
Oct.10 Sold goods for cash in the amount of 30,000
Oct.11 Paid 10,000 for loan expense.
Oct.12 Received 5,000 from customers on credit sales.
Oct.13 Purchased on account inventory of goods for sale worth 50,000.
Oct.14 Paid 500 fro commercial expense.
Oct.15 Sales of goods in the amount of 25,000. Php 15,000 is paid n cash in the balance is a sale on credit.
Aug.16 Withdraw 10,000 for personal use from business account.
Aug.17 Invested 100,000 of goods for sari-sari store.
Aug.18 Paid the purchase on aaccount incurred last October 13.
Aug.19 Deposited 50,000 in cash into the business bak account.
Aug.20 Received a bill for a utilities of the previous month, 500.
Aug.21 Purchased inventory for cash 30,000.
Aug.22 Collected the receivable from customer on oct. 8.
Aug.23 Paid 15,000 cash for rent expense.
Aug.24 Paid salaries expense 5,000 cash.
Aug.25 Paid 3,000 for water bill for the month.
Aug.26 Purchased computer for the business worth 60,000 on cash.
Aug.27 Withdraw 2,500 for emergency used.
Aug.28 Received 10,000 account from a customer.
Aug.29 Deposited 35,000 to a business account for capital
Aug.30 Paid 4,000 for delivery expense.
ash and the left amount on credcredit.

e is a sale on credit.
JOURNALIZING TRANSACTIONS
DATE TRANSACTIONS
Aug.1 Ms. Hiezel invested 100,000 cash in the business.

Aug.2 Purchased inventory for cash, 50,000.

Aug.3 Sold inventory on credit, 30,000.

Aug.4 Received 15,000 from customers on credit sales.

Aug.5 Paid 10,000 for rent expense.

Aug.6 Purchased office supplies for cash,500.

Aug.7 Paid 2,000 for utilities expense..

Aug.8 Paid 500 for advertising expense.

Aug.9 Sold inventory for cash, 20,000.

Aug.10 Received 10,000 from customers on credit sales.

Aug.11 Paid 5,000 for salaries expense.

Aug.12 Purchased inventory on credit, 20,000.

Aug.13 Paid 4,000 for insurance expense.

Aug.14 Sold inventory for cash, 15,000.

Aug.15 Received 5,000 from customers on credit sales.

Aug.16 Returned 1,000 of inventory to the supplier

Aug.17 Paid 3,000 for interest expense.

Aug.18 Sold inventory for cash, 25,000.

Aug.19 Received 15,000 from customers on credit sales.

Aug.20 Paid 2,000 for miscellaneous expenses.

Aug.21 Purchased inventory for cash, 30,000.

Aug.22 Sold inventory on credit, 40,000.

Aug.23 Received 20,000 from customers on credit sales.

Aug.24 Paid 10,000 for rent expense.

Aug.25 Purchased office supplies for cash, 800.

Aug.26 Paid 2,500 for utilities expense.

Aug.27 Paid 600 for advertising expense.

Aug.28 Sold inventory for cash, 30,000.

Aug.29 Received 25,000 from customers on credit sales.

Aug.30 Paid 6,000 for salaries expense.

JOURNAL ENTRY DEBIT CREDIT
Cash 100,000
Hiezel, Capital 100,000
To record the investment of capital.

Inventory 50,000
Cash 50,000
To record purchase of inventory

Account receivable 30,000

Sale revenue 30,000
To record sales on account

Cash 15,000
Account receivable 15,000
To record receipt of payment -

Rent Expense 10,000

Cash 10,000
To record payment of rent

Office supplies 500

Cash 500
To record purchase of office supplies on cash

Utilities expense 2,000

Cash 2,000
To record payment of utilities

Advertising expense 500

Cash 500
To record payment of advertising

Cash 20,000
Sale revenue 20,000
To record sales on cash

Cash 10,000
Accounts Receivable 10,000
To record receipt of payment

Salaries Expense 5,000

Cash 5,000
To record payment of salaries

Inventory 20,000
Account payable 20,000
To record purchase of office supplies on account

Insurance expense 4,000

Cash 4,000
To record payment of insurance
Cash 15,000
Sales revenue 15,000
To record sales on cash

Cash 5,000
Account receivable 5,000
To record receipt of payment

Sales return and allowance 1,000

Cash 1,000
To record return

Interest expense 3,000

Cash 3,000
To record payment of Interest

Cash 25,000
Sales revenue 25,000
To record sales on cash

Cash 15,000
Account receivable 15,000
To record receipt of payment

Miscellaneous expenses. 2,000

Cash 2,000
To record payment of miscellaneous
Inventory 30,000
Cash 30,000
To record purchase of inventory on cash

Account receiveble 40,000

Sales revenue 40,000
To record sales on accounts

Cash 20,000
Account receiveble 20,000
To record receipt of payment

Rent expense 10,000

Cash 10,000
To record payment of rent
Office Supplies 800
Cash 800
To record purchase of supplies on cash

Utilities Expense 2,500

Cash 2,500
To record payment of utilities

Advertising expense 600

Cash 600
To record receipt of payment

Cash 30,000
Sales revenue 30,000
To record sales on cash

Cash 25,000
Account receivable 25,000
To record receipt of payment

Salaries expense 6,000

Cash 6,000
To record payment of salaries
 CASH
Date Transaction Debit Date
Aug.1 Ms. Hiezel invested 100,000 cash in the business. 100,000 Aug.2
Aug.4 Received 15,000 from customers on credit sales. 15,000 Aug.5
Aug.9 Sold inventory for cash, 20,000. 20,000 Aug.6
Aug.10 Received 10,000 from customers on credit sales. 10,000 Aug.7
Aug.14 Sold inventory for cash, 15,000. 15,000 Aug.8
Aug.15 Received 5,000 from customers on credit sales. 5,000 Aug.11
Aug.18 Sold inventory for cash, 25,000. 25,000 Aug.13
Aug.19 Received 15,000 from customers on credit sales. 15,000 Aug.16
Aug.23 Received 20,000 from customers on credit sales. 20,000 Aug.17
Aug.28 Sold inventory for cash, 30,000. 30,000 Aug.20
Aug.29 Received 25,000 from customers on credit sales. 25,000 Aug.21
Aug.24
Aug.25
Aug.26
Aug.27
Aug.30
Total 280,000
152,100
Transaction Credit Date
Purchased inventory for cash, 50,000. 50,000 Aug.3
Paid 10,000 for rent expense. 10,000 Aug.22
Purchased office supplies for cash,500. 500
Paid 2,000 for utilities expense.. 2,000
Paid 500 for advertising expense. 500
Paid 5,000 for salaries expense. 5,000
Paid 4,000 for insurance expense. 4,000 Total
Returned 1,000 of inventory to the supplier 1,000
Paid 3,000 for interest expense. 3,000
Paid 2,000 for miscellaneous expenses. 2,000
Purchased inventory for cash, 30,000. 30,000
Paid 10,000 for rent expense. 10,000
Purchased office supplies for cash, 800. 800
Paid 2,500 for utilities expense. 2,500
Paid 600 for advertising expense. 600
Paid 6,000 for salaries expense. 6,000
127,900
 ACCOUNTS RECEIVABLE
Transaction Debit Date
Sold inventory on credit, 30,000. 30,000 Aug.4
Sold inventory on credit, 40,000. 40,000 Aug.10
Aug.15
Aug.19
Aug.23
Aug.29
Total 70,000
ACCOUNTS RECEIVABLE
Transaction Credit Date
Received 15,000 from customers on credit sales. 15,000 Aug.2
Received 10,000 from customers on credit sales. 10,000 Aug.12
Received 5,000 from customers on credit sales. 5,000 Aug.21
Received 15,000 from customers on credit sales. 15,000 Total
Received 20,000 from customers on credit sales. 20,000
Received 25,000 from customers on credit sales. 25,000
90,000
20,000
 INVENTORY
Transaction Debit Date Transaction Credit
Purchased inventory for cash, 50,000. 50,000
Purchased inventory on credit, 20,000. 20,000
Purchased inventory for cash, 30,000. 30,000
Total 100,000
 Office supplies
Date Transaction Debit Date Transaction
Aug.6 Purchased office supplies for cash,500. 500
Aug.25 Purchased office supplies for cash, 800. 800
Total 1,300
 Account payable
Credit Date Transaction Debit Date
Aug.12
Total
Account payable Sales revenue
Transaction Credit Date Transaction Debit Date
Purchased inventory on credit, 20,000. 20,000 Aug.3
Total 20,000 Aug.9
Aug.14
Aug.18
Aug.22
Aug.28
To
Sales revenue Sales return and allowance
Transaction Credit Date Transaction
Sold inventory on credit, 30,000. 30,000 Aug.16 Returned 1,000 of inventory to the supplier
Sold inventory for cash, 20,000. 20,000 Total
Sold inventory for cash, 15,000. 15,000
Sold inventory for cash, 25,000. 25,000
Sold inventory on credit, 40,000. 40,000
Sold inventory for cash, 30,000. 30,000
Total 160,000
return and allowance Hiezel, Capital
Debit Date Transaction Credit Date Transaction Debit Date
1,000 Aug.1
1,000
Hiezel, Capital Rent Expense
Transaction Credit Date Transaction
Ms. Hiezel invested 100,000 cash in the business. 100,000 Aug.5 Paid 10,000 for rent expense.
Total 100,000 Aug.24 Paid 10,000 for rent expense.
Total
Rent Expense Salaries expense
Debit Date Transaction Credit Date Transaction
10,000 Aug.11 Paid 5,000 for salaries expense.
10,000 Aug.30 Paid 6,000 for salaries expense.
20,000 Total
laries expense Utilities expense
Debit Date Transactio Credit Date Transaction Debit
5,000 Aug.7 Paid 2,000 for utilities expense.. 2,000
6,000 Aug.26 Paid 2,500 for utilities expense. 2,500
11,000 Total 4,500
xpense Advertising expense
Date Transactio Credit Date Transaction Debit Date
Aug.8 Paid 500 for advertising expense. 500
Aug.27 Paid 600 for advertising expense. 600
Total 1,100
 Insurance expense
Transactio Credit Date Transaction Debit Date Transactio
Aug.13 Paid 4,000 for insurance expense. 4,000
Total 4,000
 Interest expense
Credit Date Transaction Debit Date Transactio Credit
Aug.17 Paid 3,000 for interest expense. 3,000
Total 3,000
 Miscellaneous expenses.
Date Transaction Debit Date Transactio Credit
Aug.20 Paid 2,000 for miscellaneous expenses. 2,000
Total 2,000
 Hart Bless Merch
Trial Balance
August 31, 20x1

Debit Credit
Cash 152,100
Accounts Receivable 20,000
Inventory 100,000
Office supplies 1,300
Accounts Payable 20,000
Sales revenue 160,000
Sales return and allowance 1,000
Hieze's Capital 100,000
Rent expense 20,000
Salaries expense 11,000
Utilities expense 4,500
Advertising expense 1,100
Insurance expense 4,000
Interest expense 3,000
Miscellaneous expense 2,000
Total 300,000 300,000