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Journal Entries

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Jenmar Pepito
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38 views1 page

Journal Entries

Uploaded by

Jenmar Pepito
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd

JOURNAL ENTRIES

DEBIT CREDIT
1. PADILLA DRAWINGS 50,000
CASH 50,000
2. PURCHASES MERCHA 80,000
ACCOUNTS PAYABLE 80,000
3. PURCHASE MER, 500,000
CASH 500,000
4. ACCOUNTS RECEIVABLE 750,000
SALES 750,000
5. CASH 75,000
SALES 75,000
6. CASH 209,000
SALES DISCOUNT 3,000
SERVICE REVENUE 211,000
7. SALARY EXP 20,000
RENT EXP 50,000
TAXES EXP 10,000
CASH 80,000
8. RETURN MERCHANDISE 8,000
Cash 8,000
9. Cash 7,000
Sales 7,000
10. Cash 1,000,000
Merchandise inventory 50,000
Padilla capital 1,050,000

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