1235.7.9.Lacson invested P100,000 cash in thebusinessPaid P5,000 for office rent for themonthPurchased P1,500 of supplies onaccount.Paid P3,000 to advertise on the radio.Received P6,000 for services provided.Withdrew P8,000 for personal use.Performed P7,000 of services onaccount.Paid P5,000 for employee salaries.Paid for supplies purchased in No.310. Received cash payment of P3,000 forservices provided on account in No. 7a. Account debitedb. Account crediteda. Account debitedb. Account crediteda. Account debitedb. Account crediteda. Account debitedb. Account crediteda. Account debitedb. Account crediteda. Account debitedb. Account crediteda. Account debitedb. Account crediteda. Account debitedb. Account crediteda. Account debitedb. Account crediteda. Account debitedb. Account creditedAccountCashLacson,CapitalRent ExpenseCashAmount100,000100,0005,0005,000

Rule of debit credit is they are known as the Golden Rules of accountancy: 1)Debit what comes in,…

Answered: 1 2 3 4. 5. 6. 7. 8. 9. 10. Lacson…

SWFT Comprehensive Vol 2020

43rd Edition

ISBN:9780357391723

Author:Maloney

Publisher:Maloney

Chapter6: Deductions And Losses: In General

Section: Chapter Questions

Problem 40P

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