Prepare the journal entry required for each transaction: Oct. 01, 2022: Mr. Alberto invested P500,000 cash in the computer rental shop Oct. 02, 2022: Mr Alberto bought 10 units of computer at P30,000 each for the shop. The computers were delivered the next day with Mr Alberto fully paying the supplier in cash. Oct. 05, 2022: Some tables and chairs were purchased from Deluxe Furniture Co. for P10,000 to be paid on the following terms: 50% within 10 days and the balance within 30 days. Oct. 12, 2022: Mr Alberto borrowed from P300,000 from a bank, which he promised to pay by December 2022. Oct. 15, 2022: A payment of P5,000 representing 50% of the liability to Deluxe Furniture Co. was made in accordance with the terms of credit. Oct. 20, 2022: Mr Alberto bought 2 laser printers worth P50,000 for use in his computer rental shop.
Prepare the journal entry required for each transaction: Oct. 01, 2022: Mr. Alberto invested P500,000 cash in the computer rental shop Oct. 02, 2022: Mr Alberto bought 10 units of computer at P30,000 each for the shop. The computers were delivered the next day with Mr Alberto fully paying the supplier in cash. Oct. 05, 2022: Some tables and chairs were purchased from Deluxe Furniture Co. for P10,000 to be paid on the following terms: 50% within 10 days and the balance within 30 days. Oct. 12, 2022: Mr Alberto borrowed from P300,000 from a bank, which he promised to pay by December 2022. Oct. 15, 2022: A payment of P5,000 representing 50% of the liability to Deluxe Furniture Co. was made in accordance with the terms of credit. Oct. 20, 2022: Mr Alberto bought 2 laser printers worth P50,000 for use in his computer rental shop.
Chapter12: Current Liabilities
Section: Chapter Questions
Problem 5PA: Review the following transactions, and prepare any necessary journal entries. A. On July 16, Arrow...
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Prepare the journal entry required for each transaction:
Oct. 01, 2022: Mr. Alberto invested P500,000 cash in the computer rental shop
Oct. 02, 2022: Mr Alberto bought 10 units of computer at P30,000 each for the shop. The computers were delivered the next day with Mr Alberto fully paying the
supplier in cash.
Oct. 05, 2022: Some tables and chairs were purchased from Deluxe Furniture Co. for P10,000 to be paid on the following terms: 50% within 10 days and the
balance within 30 days.
Oct. 12, 2022: Mr Alberto borrowed from P300,000 from a bank, which he promised to pay by December 2022.
Oct. 15, 2022: A payment of P5,000 representing 50% of the liability to Deluxe Furniture Co. was made in accordance with the terms of credit.
Oct. 20, 2022: Mr Alberto bought 2 laser printers worth P50,000 for use in his computer rental shop. He paid for these printers in cash.
Oct. 23, 2022: Mr Alberto bought 10 toner cartridges worth P15,000 as supplies for his printers.
Oct. 25, 2022: Mr Alberto borrowed P1,000,000 from a bank which is to be paid after 5 years.
send excel file please thank you
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