■ Go to the library and study the different kinds of business forms and accounting

books. Graded recitation next meeting.

■ Business forms
– Purchase request
– Receiving Report
– Check Voucher
– Purchase order
– Delivery Receipt
– Sales Invoice
– Provisional and Official Receipt
■ Accounting Books
 Journal
o Sales journal
o Purchase journal
o Cash receipts journal
o Cash disbursement journal
 General and subsidiary ledger
■
1.  Jose flores purchased a condominium unit for P 2,800,000. He made a
downpayment of 15% of the purchase price of the unit and obtained a
mortgage for the balance. Find his monthly payment and the total amount
of interest he paid for the mortgage if the interest is 9 ¾ % for 15 years.
2. Mr. Gueverra obtained a P 1.8M mortgage for 12 years at 7. How much
was his monthly payment and the total amount of interest he paid for the
mortgage?
3. An employee obtained a housing loan of P 500,000 which he would like to
pay on equal installments at the end of each month for 25 years. Find the
periodic installment if he is required to pay 7.5% interest compounded
monthly. How much total interest will he pay for the loan?
4. Mr. R. Reyes borrowed P 650,000 payable at the end of each month in
equal installments at 8 1/5 % compounded monthly for 20 years. Find his
periodic payment and the total amount of interest he paid for the loan.
1. Define entrepreneurship. (5 pts)
2. Name the (3) primary reasons that people become
entrepreneurship and start their own business.
3. Name the four primary characteristic of a successful
entrepreneur and briefly describe each.
4. Enumerate the common myths about entrepreneurs.
5. Name the two economic impacts of entrepreneurial
firms. Explain each briefly.