journal analysis PROBLEMJohn Montero, opened a plumbing service, MonteroPlumbing. Operations began on April 21, 2021, and thefollowing transactions were completed during the month:田Withdrew P67,000 from a personal savings accountApriland used it to open a new account in the name ofMontero Plumbing.Acquired a service vehicleAprilpayment of P17,500 in cash was made and a noteosting P81,000. Apayable given for the P63,500 remainder.AprilPaid rent for the month, P7,150AprilAcquired plumbing supplies on account P15,700.6.April Paid for three months of advertising and recordedPrepaid Advertising in the amount of P6,000.April Cash in the amount of P18,350 was received forplumbing services rendered on the same dayApril Acquired additional plumbing supplies for cash,6.P8,0502. AprilPaid salaries, P11,600.11April Rendered plumbing services and billed the customer,15P42,200.April Paid P5,700 of the amount owed from the16transaction of April 6AprilPaid miscellaneous expenses, P4,30019April Collected P21,000 from the customer on the April2015 transactionAprilThe owner withdrew P14,500 from the business21AprilPaid salaries, P14,10022April Paid the first installment of the note payable,24P3,850.AprilPaid telephone expense, P1,250.25April Billed the Bel Company for plumbing services27rendered, P14,150

The journal entries are prepared to record day to day transactions of the business.

and used it to open a new account in the náme of Montero Plumbing. April Acquired a service vehicle costing P81,000. A April payment of P17,500 in cash was made and a note payable given for the P63,500 remainder. April Paid rent for the month, P7,150 3 1, 2.

and used it to open a new account in the náme of Montero Plumbing. April Acquired a service vehicle costing P81,000. A April payment of P17,500 in cash was made and a note payable given for the P63,500 remainder. April Paid rent for the month, P7,150 3 1, 2.

Century 21 Accounting Multicolumn Journal

11th Edition

ISBN:9781337679503

Author:Gilbertson

Publisher:Gilbertson

Chapter19: Accounting For Plant Assets, Depreciation, And Intangible Assets

Section: Chapter Questions

Problem 6AP

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