a.

)
General Ledger (Accounts Receivable)
Date Particulars F Debit Credit
Dec 1 ₱26,712

b.)
Subsidiary Ledger (Accounts Receivable)
Date Particulars F Debit Credit
Name: Mindanao Cravings
Nov 25 Invoice 48 ₱8,064

Date Particulars F Debit Credit

Name: Ilocos Handicraft
28 Invoice 52 4,928

Date Particulars F Debit Credit

Name: Intramuros Wood Craft
30 Invoice 57 13,720

c.)
Sales Journal
Cash
Date Sold To Invoice No. F Sales
(Debit)
Nov 25 Mindanao Cravings Invoice 48 /
28 Ilocos Handicraft Invoice 52 /
30 Intramuros Wood Craft Invoice 57 /

Cash Receipts Journal

Invoice
Date Received From Explanation F
No.

Dec 4 Intramuros Wood Craft Partial Collection R23 /

10 Ilocos Handicraft Partial Collection 52 /
18 Intramuros Wood Craft Full Collection 57 /
30 Mindanao Cravings Conversion to notes. 48 /
 General Journal
Date Particulars PR Debit Credit
 d.)
Journal Entries
Balance Date Particulars
₱26,712 Dec 1 Accounts Receivable
Sales
Output Tax

4 Cash
Accounts Receivable
Balance

₱8,064 8 Cash
6,144 Accounts Receivable
Balance Sales
Output Tax
4,928
0 50% down payment.
Balance
10 Cash
13,720 Accounts Receivable
3,080

18 Cash
Accounts Receivable

20 Accounts Receivable
Accounts Freight In
Sales
Receivable Output Tax Sales
(Credit)
(Debit) Output Tax
₱8,064 ₱7,200 ₱864
4,928 44,000 528 freight.
13,720 12,250 1,470
15,624 15,700 25 Sales Returns and Allowances
Accounts Receivable

defect in the merchandise sold.

Cash Cash Sales Accounts

Receivable 30 Notes Receivable
(Debit) (Debit) (Debit) Accounts Receivable
₱6,860 ₱6,860
2,464 2,464 of notes for its old account.
6,860 6,860
8,064 8,064 31 Cash
24,248 24,300 Accounts Receivable
 customer.

Customer's Card:
Date Particula
Name: Corregidor Sights
Dec 1 Invoice 58
25 Credit Memo No. 8
31 Full Payment

Date Particula
Name: Intramuros Wood Craft
Nov 30 Invoice 57
Dec 4 Receipt 23
18 Full Payment

Date Particula
Name: Ilocos Handicraft
Dec 10 Payment 50% of old account.

Date Particula
Name: Mindanao Carvings
Dec 20
30 Issued notes for old account.

e.)
Sales Journal:

Date Customer

Dec 1 Corregidor Sights

8 Intramuros Wood Craft
20 Mindanao Carvings

Cash Receipts Journal:

 Date Received from Explanation

Dec 4 Intramuros Wood Craft Partial collection

8 Intramuros Wood Craft Partial collection
10 Ilococs Handicraft Partial collection
18 Intramuros Wood Craft Full Payment
31 Corregidor Sights Full Payment

f.)
Accounts Receivable Ledgers:
Date Particulars
Name: Corregidor Sights
Dec 1 Invoice 58
25 Credit Memo No. 8
31 Full Payment

Date Particulars
Name: Intramuros Wood Craft
Nov 30 Invoice 57
Dec 4 Receipt 23
18 Full Payment

Date Particulars
Name: Ilocos Handicraft
Dec 10 Payment 50% of old account.

Date Particulars
Name: Mindanao Carvings
Dec 20
30 Issued notes for old account.

g.)
Philippine Wood Crafts
Schedule of Accounts Receivable
December 31, 20xx
Ilocos Handicraft 2,464
Mindanao Carvings 15,008
Total 17,472
es
Particulars PR Debit Credit
ceivable ₱5,600
ales ₱5,000
Output Tax 600
To record sales on account.

6,860
ccounts Receivable 6,860
To record partial collection.

3,080
ceivable 3,080
ales 5,500
Output Tax 660
To record sales on account with
ayment.

2,464
ccounts Receivable 2,464
To record partial collection.

6,860
ccounts Receivable 6,860
To record full collection of sales.

ceivable 5,824
1,120
ales 6,200
Output Tax 744
To record sales on credit with

ns and Allowances 560

ccounts Receivable 560
To record credit memo for a
e merchandise sold.

vable 8,064
ccounts Receivable 8,064
To record customer's issuance
its old account.

5,040
ccounts Receivable 5,040
To record full payment of
 Particulars F Debit Credit Balance
Name: Corregidor Sights
nvoice 58 ₱5,600 ₱5,600
redit Memo No. 8 560 5,040
ull Payment 5,040 0

Particulars F Debit Credit Balance

Name: Intramuros Wood Craft
nvoice 57 13,720 13,720
eceipt 23 6,860 6,860
ull Payment 6,860 0

Particulars F Debit Credit Balance

Name: Ilocos Handicraft
ayment 50% of old account. 2,464 2,464

Particulars F Debit Credit Balance

Name: Mindanao Carvings
6,944 6,944
ssued notes for old account. 8,064 15,008

Accounts Cash
Sales
Customer Invoice No. F Receivable Sales
(DEBIT) (DEBIT) (CREDIT)

orregidor Sights Invoice 58 / 5,600 5,600

ntramuros Wood Craft Receipt 23 / 3,080 3,080 6,160
Mindanao Carvings / 5,824 5,824
14,504 3,080 17,584
 Cash Sales Disc. Accounts Cash Sales
OR # F Receivable
(Debit) (DEBIT) (CREDIT)
(CREDIT)
6,860 6,860
3,080 3,080
2,464 2,464
6,860 0 6,860
5,600 0 5,600
24,864 12,404 12,460

F Debit Credit Balance

₱5,600 ₱5,600
560 5,040
5,040 0

F Debit Credit Balance

13,720 13,720
6,860 6,860
6,860 0

F Debit Credit Balance

2,464 2,464

F Debit Credit Balance

6,944 6,944
8,064 15,008

vable
a.)
General Ledger (Accounts Payable):
Date Particulars F Debit Credit
May 20 Invoice No. 690 ₱13,440
30 Invoice No. 815 16,800

b.)
Subsidiary Ledger (Accounts Payable)
Date Particulars F Debit Credit
Name: William's Trade Craft
May 20 Invoice No. 690 ₱13,440

Date Particulars F Debit Credit

Name: Liliw Handicraft
May 30 Invoice No. 815 16,800

d.)
Journal Entries:
Purchase Journal

Purchases
Date Purchased From Invoice No. F
(DEBIT)

June 4 William's Trade Craft 715 6,000 /

10 General Equipment and Supply 342 9,500
18 Payapa Handicraft 901 15,120
28 Liza's Handicraft 5,529

Cash Payments Journal

Cash Purchase
Date Paid To Explanation VO # Disc.
(CREDIT)
CREDIT)
June 2 William's Trade Craft Full Payment 11 13,305.60
5 BIR Tax 12 750
7 Flash Delivery Co. Freight 13 637
9 Asia Bank Payment of note 14 100,000

11 Liliw Handicraft Full Payment 15 16,800

13 Installation Co. Installation 16 815
20 General Equipment Payment of balance 17 4,500
25 Speedy Delivery Freight 18 1,285.71
₱138,093.31
 General Journal
Date Particulars PR Debit Credit
June 9 Notes Payable 82,000
Interest Exepense 18,000
Cash 100,000
To record payment for Asia
Bank for the notes due.

15 Accounts Payable 448

Purchase Returns and Allowances 448
Credit memo for returns to
William's Trade Craft.

22 Accounts Payable 1,680

Purchase Returns and Allowances 1,680
Credit memo for returns to
Payapa Handicraft.

28 Accounts Payable 5,529

Notes Payable 5,529
10-day, 12% note to Liza's
Handicraft.

Subsidiary Ledgers (Accounts Payable)

Date Particulars PR Debit Credit
Name: William's Trade Craft
June 1 Balance 13,440
2 Check No. 911 13,306
Purchase Discount 134
4 Invoice No. 715 6,720
15 Credit Memo 448

Date Particulars PR Debit Credit

Name: General Equipment and Supply
June 10 Invoice No. 342 5,640
20 Full Payment 5,527.20
Purchase Discount 112.8

Date Particulars PR Debit Credit

Name: Liliw Handicraft
June 1 Balance 16,800
11 Full Payment 16,800
 Date Particulars PR Debit Credit
Name: Liza's Handicraft
June 28 5,529
Balance
₱13,440
30,240

Balance

₱13,440

Balance

16,800

Account
Cash
s
Purchases
Payable
(CREDIT) (CREDIT)
6,000
4,500 5,000
15,120
5,529

Accounts Cash Sundry

F Payable Purchases(
(DEBIT) DEBIT) Account F Debit Credit

13,305.60
Taxes & Licenses Expense 750
Freight In 637
Notes Payable 82,000
Interest Expense 18,000
16,800
Installation Expense 815
4,500
Freight Out 1,285.71
₱34,605.60 ₱103,487.71
Balance

13,440
0

6,720
6,272

Balance

5,640

Balance

16,800
0
Balance

5,529
c.) Journal Entries- Purchase Journal
Date Particulars PR
June 4 Purchases
Input Tax
Freight In
Accounts Payable
To record purchases with 12%
VAT and FOB Shipping Point.

10 Purchases
Input Tax
Cash
Accounts Payable
To record purchases with 12%
VAT and down payment.

15 Accounts Payable
Purchase Returns and Allowances
Credit memo for returns to
William's Trade Craft.

18 Purchases
Cash
To record cash purchases.

22 Accounts Payable
Purchase Returns and Allowances
Credit memo for returns to
Payapa Handicraft.

28 Purchases
Input Tax
Notes Payable
To record purchases on notes.

Cash Payments Journal

Date Particulars
June 2 Accounts Payable
Cash
To record full payment of
balance.

5 Taxees and Licenses Expenses

 Cash
To record payment of taxes
and licenses.

7 Freight In
Cash
To record payment for freight.

9 Notes Payable
Interest Expense
Cash
To record payment for Asia
Bank with 18% interest.

11 Accounts Payable
Cash
To record full payment of
balance on account.

20 Accounts Payable
Cash
To record full payment of
balance on account.

25 Freight Out
Output Tax
Cash
To record payment of freight
goods sold.

e.)
General Ledger- Accounts Payable
Date Particulars
June 1 Balance
Balance
2 Check No. 911
Purchase Discount
4 Invoice No. 715
10 Invoice No. 342
11 Full Payment
15 Credit Memo
20 Full Payment
Purchase Discount
Debit Credit
5,350
720
650
6,720

9,500
1,140
5,000
5,640

448
448

15,120
15,120

1,680
1,680

5,529
684
6,213

PR Debit Credit
13,305.60
13,305.60

750
 750

728
728

82,000
18,000
100,000

16,800
16,800

5,527.20
5,527.20

1,285.71
154.29
1,440

s F Debit Credit Balance

13,440 13,440
16,800 30,240
13,306 16,934
134 16,800
6,720 23,520
5,640 29,160
16,800 12,360
448 11,912
5,527.20 6,384.80
112.8 6272
a.)
Journal Entires- Purchase Journal
Merchandise
Invoice
Date Suppliers Inventory
No.
(DEBIT)
April 4 Denver Co. ₱7,400
11 New Shoes Sports 3,000
14 Athena's Sportswear 6,000
₱16,400

Journal Entires- Disbursement Journal

Cash
Date Payee Check No.
(CREDIT)

April 4 Denver Co. 7,000

14 Athena's Sportswear 5,880
12,880

Journal Entires- Sales Journal

Invoice Sales
Date Customers
No. (CREDIT)

April 8 Customers 9,000

18 Alpha 1,500
22 Venus Trading 5,000

Journal Entires- Cash Receipts Journal

Cash
Date Received From OR NO.
(DEBIT)

April 8 Customers 9,000

11 Newshoes Sports 3,000
15 Newshoes Sports 1,000
20 Alpha 500
30 Venus Trading 5,000

Journal Entires- Cash Disbursement Journal

Cash
Date Paid To Explanation Vo. No.
(CREDIT)
 April 6 Delivery Co. Freight payment. 600
13 Denver Co. Full payment. 6,790
17 Athena's Sportswear Freight payment. 300
21 Athena's Sportswear Full payment. 5,880
₱13,570.00

b.)
T- Account:
Cash Accounts Receivable
Apr-01 25,000 Apr-18 1,500
Apr-06 600 22 5,000
8 9,000 11 3,000 Apr-30 5,000
13 6,790 End: ₱1,500.00
15 1,000 17 300
20 500 21 5,880
30 5,000
End: ₱23,930.00
Accounts Cash
Payable Purchases(
(CREDIT) CREDIT)
₱7,400
₱3,000
6,000
₱13,400 ₱3,000

Cash Accounts Merchandise

Purchase Payable Inventory Sundry Accounts Debit Credit
(DEBIT) (DEBIT) (CREDIT)
7,000
5,880
12,880

Cash Accounts
Sales Receivable Cost of Sales
Merchandise Inventory
(DEBIT) (CREDIT)
(DEBIT) (DEBIT)
9,000 4,750 8,000
1,500 1,000 1,000
5,000 1,000 1,000

Sales Accounts Cash Sales

Discount Receivable Sundry Accounts Debit Credit
(CREDIT)
(DEBIT) (CREDIT)
9,000
3,000
Sales returns and allowances 1,000
500
5,000

Purchase Sundry
Accounts Payable
Discount
(CREDIT) Account Title F Debit Credit
F Debit
 Freight In 600
6,790
Freight In 300
5,880
₱12,670.00 ₱900.00

Merchandise Invemtory