2021 APRIL 1 2 5 6 11 13 14 15 16 17 18 20 23 26 27 28 29 30 30 30 The business, JHARA DISTRIBUTORS, was registered as a single proprietorship, Jonathan Andes invested P39,000. Bought computer equipment for P10,000 cash. Bought merchandise on account from JIBT Supply Co. P15,900, terms 2/10, n/30. Bought office supplies on cash basis for P700. Sold merchandise on account P15,200, FOB Destination, terms 2/10, n/30. Paid P200 freight on April 4 sale. Received credit from JIBT Supply Co. for merchandise 300 Paid JIBT Collected from April 4 customers. Bought merchandise on cash basis for P14,400. Salaries paid P1,500. Borrowed money from PNB Bank, signed a promissory note for P12,000. Received refund from a supplier on cash purchase of April 14; P500. Bought merchandise from CASIO, P14,200, FOB Shipping point, terms 2/10, n/30. Paid freight on April 18 purchase, 700 Sold merchandise for P16,400. Bought merchandise for cash P12,300 Paid CASIO on the April 18 purchase, P9,000. No discount allowed on partial payment. J. Andes got cash from the business, P2,008. Made refund to cash customer for defective merchandise, P900 Sold merchandise on account, P13,700, n/30. Paid the following: Advertising, P1,000; Utilities, P400; Rent, P3,500; Salaries. P1,500. Inventory April 30, P25,000.
2021 APRIL 1 2 5 6 11 13 14 15 16 17 18 20 23 26 27 28 29 30 30 30 The business, JHARA DISTRIBUTORS, was registered as a single proprietorship, Jonathan Andes invested P39,000. Bought computer equipment for P10,000 cash. Bought merchandise on account from JIBT Supply Co. P15,900, terms 2/10, n/30. Bought office supplies on cash basis for P700. Sold merchandise on account P15,200, FOB Destination, terms 2/10, n/30. Paid P200 freight on April 4 sale. Received credit from JIBT Supply Co. for merchandise 300 Paid JIBT Collected from April 4 customers. Bought merchandise on cash basis for P14,400. Salaries paid P1,500. Borrowed money from PNB Bank, signed a promissory note for P12,000. Received refund from a supplier on cash purchase of April 14; P500. Bought merchandise from CASIO, P14,200, FOB Shipping point, terms 2/10, n/30. Paid freight on April 18 purchase, 700 Sold merchandise for P16,400. Bought merchandise for cash P12,300 Paid CASIO on the April 18 purchase, P9,000. No discount allowed on partial payment. J. Andes got cash from the business, P2,008. Made refund to cash customer for defective merchandise, P900 Sold merchandise on account, P13,700, n/30. Paid the following: Advertising, P1,000; Utilities, P400; Rent, P3,500; Salaries. P1,500. Inventory April 30, P25,000.
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter5: Adjusting Entries And The Work Sheet
Section: Chapter Questions
Problem 6CE
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