Give its Journal Entry MANILA AUTO REPAIR SHOPChart of AccountsASSETSOWNER'S EQUITYINCOMECashManarang, CapitalService IncomeAccounts ReceivableManarang, DrawingOther IncomeRepair EquipmentEXPENSESLIABILITIESRent ExpensesAccounts PayableSupplies ExpensesNotes PayableSalaries and WagesDATETRANSACTIONS2008Jan. 2 Mr. Jey Boy opened an auto repair shop investing cash of P5,0003 Paid rent for the month, P2005 Bought tools and repair equipments from Jasmin Repair Equipments, P3,000 paying P1,000and the balance on account.8 Collected P400 for service rendered.9 Repairs supplies paid, P35015 Partial payment to Jasmin Repair Equipment, P1,00020 Paid Salaries of trainee-mechanic, P10025 Mr. Jey Boy withdraw P500 for personal use.30 Collected P480 cash for service rendered.31 Billed wylengco Trading for service rendered, P250.

Journal entries recording is the initial step of accounting cycle process, under which atleast one…

Answered: Give its Journal Entry

Business

Accounting

Give its Journal Entry

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter3: The Double-entry Framework

Section: Chapter Questions

Problem 5SEA: TRANSACTION ANALYSIS Linda Kipp started a business on May 1, 20--. Analyze the following...

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usiness AccountingQ&A Library1. Record the following transaction in the appropriate journal, ledger accounts and balance off the accounts at 30 September 2020. Sept 3 Bought goods on credit for RM846 from Labu Enterprise 6 Sold goods for cash of RM73 7 Bought motor vehicle by cheque for RM4,300 11 Sold goods to Karas Sdn Bhd on credit for RM380 13 Karas Sdn Bhd returned goods to Labu Enterprise worth RM143 17 Returned goods to Labu Enterprise worth RM83 20 Received cheque for RM60 from Karas Sdn Bhd on acount 24 Bought office furniture by cheque for RM365 27 Sent cheque to Labu Enterprise in settlement of account RM160 29 Sold goods to Sakun Enterprise on credit fro RM412 1. Record the following transaction in the appropriate journal, ledger accounts and balance off the accounts at 30 September 2020. Sept 3 Bought goods on credit for RM846 from Labu Enterprise 6 Sold goods for cash of RM73 7 Bought motor vehicle by cheque for RM4,300 11 Sold goods to Karas Sdn Bhd on credit…