A. Cruz, owner of Bingget Trading, invested P2,000 cash, merchandise P4,500, and store equipment with a fair market value of P8,600. Sold P1,200 goods to Bonete Store. Terms: 2/10; n/20. 3 Sold P3,000 worth of merchandise to Rufie Trading. Terms: 2/10, 1/20: n/30. Sold for cash P500 goods. Purchased P1,800 goods and paid freight for the merchandise P50. Bonete store paid its account in full. Rufie Store paid P1,000 in partial settlement of its account. Sold merchandise for P2,500 to Rading Mini Grocery. Terms: 7500 down, P1,000 60-day 6% note, and the balance on account. Rufie paid another 1,000 in partial settlement of its account. Received P250 commission from ABC Store for selling its items. 6 7 . 9 0 2 Rufie Store paid the balance of its account. 3 Received P500 from the tenant of the store. Paid the half month's salary of the helper, P1,000. Create a General Journal
A. Cruz, owner of Bingget Trading, invested P2,000 cash, merchandise P4,500, and store equipment with a fair market value of P8,600. Sold P1,200 goods to Bonete Store. Terms: 2/10; n/20. 3 Sold P3,000 worth of merchandise to Rufie Trading. Terms: 2/10, 1/20: n/30. Sold for cash P500 goods. Purchased P1,800 goods and paid freight for the merchandise P50. Bonete store paid its account in full. Rufie Store paid P1,000 in partial settlement of its account. Sold merchandise for P2,500 to Rading Mini Grocery. Terms: 7500 down, P1,000 60-day 6% note, and the balance on account. Rufie paid another 1,000 in partial settlement of its account. Received P250 commission from ABC Store for selling its items. 6 7 . 9 0 2 Rufie Store paid the balance of its account. 3 Received P500 from the tenant of the store. Paid the half month's salary of the helper, P1,000. Create a General Journal
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
A. Cruz, owner of Bingget Trading, invested P2,000 cash, merchandise P4,500, and store equipment with a fair market value of P8,600.
Sold P1,200 goods to Bonete Store. Terms: 2/10; n/20.
3 Sold P3,000 worth of merchandise to Rufie Trading. Terms: 2/10, 1/20: n/30.
Sold for cash P500 goods.
Purchased P1,800 goods and paid freight for the merchandise P50.
Bonete store paid its account in full.
Rufie Store paid P1,000 in partial settlement of its account.
Sold merchandise for P2,500 to Rading Mini Grocery. Terms: 7500 down, P1,000 60-day 6% note, and the balance on account.
Rufie paid another 1,000 in partial settlement of its account.
Received P250 commission from ABC Store for selling its items.
6
7
.
9
0
2 Rufie Store paid the balance of its account.
3
Received P500 from the tenant of the store.
Paid the half month's salary of the helper, P1,000.
Create a General Journal
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