Below are the selected transactions óf Casey's letters the journals to be used: A. sales journal B. cash disbursements Purchases journal D. cash receipts journal E general journal where ea following transactions should be recorded. Give the journal entries in ea. sey made additional investments: cash of P50,000 and furniture worth PF mont wog nurchased on account P10.000,
Below are the selected transactions óf Casey's letters the journals to be used: A. sales journal B. cash disbursements Purchases journal D. cash receipts journal E general journal where ea following transactions should be recorded. Give the journal entries in ea. sey made additional investments: cash of P50,000 and furniture worth PF mont wog nurchased on account P10.000,
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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In need of answers for numbers 1-15. Thank you!
Transcribed Image Text:Exercise 13
Direction: Below are the selected transactions of Casey's Bookstore. Indicate by means of
letters the journals to be used: A. sales journal B. cash disbursements journal C.
Purchases journal D. cash receipts journal E general journal where each of the
following transactions should be recorded. Give the journal entries in each book
1. Mr. Casey made additional investments: cash of P50,000 and furniture worth P15,000.
2. Office equipment was purchased on account, P10,000.
. Merchandise purchases amounted to P15,000. Terms: P5,000 down, balance 2/10, n/30.
4. Sales on account amounted to P12,000.
3. Account purchases in No. 3 was paid within the discount period.
Transcribed Image Text:6. A credit memo for P1.000 was issued to a customer in No. 4.
7. Cash sales amounted to P5,000.
8. Operating expenses paid P3,000.
9. Borrowed P10,000 from the bank and issued a promissory note.
10. P10,000 was collected from the account sales in No. 4.
11. Sold to a customer who gave a promissory note, P2,500.
12. Purchased office supplies on account, P150.
13. Received a telephone bill for P300.
14. Note of customer in No. 11 was dishonored.
15. Cash purchases amounted to P15,000.
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