construct the Journal Entry of the transaction: Date/# Account Title Debit Credit Oct-01 Garcia invested P30,000 cash to start his business. 2 Purchased medical Supplies on account, P10,000 2 Paid monthly office rent of P4,000. 3 Recorded P5,000 revenue for service rendered to patients: received cash of P2,000 and sent bills to patients for the remainder. 15 Borrowed P50,000 from the bank, signing a note payable 22 Performed service for patients on account, P3,600 30 Received cash from patients billed on September 3, P2,000 31 Received and paid a utility bill, P200 31 Paid monthly salary to nurses, P3,000 31 Paid interest expense of P200
construct the Journal Entry of the transaction: Date/# Account Title Debit Credit Oct-01 Garcia invested P30,000 cash to start his business. 2 Purchased medical Supplies on account, P10,000 2 Paid monthly office rent of P4,000. 3 Recorded P5,000 revenue for service rendered to patients: received cash of P2,000 and sent bills to patients for the remainder. 15 Borrowed P50,000 from the bank, signing a note payable 22 Performed service for patients on account, P3,600 30 Received cash from patients billed on September 3, P2,000 31 Received and paid a utility bill, P200 31 Paid monthly salary to nurses, P3,000 31 Paid interest expense of P200
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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construct the
| Date/# | Account Title | Debit | Credit |
| Oct-01 | Garcia invested P30,000 cash to start his business. | ||
| 2 | Purchased medical Supplies on account, P10,000 | ||
| 2 | Paid monthly office rent of P4,000. | ||
| 3 | Recorded P5,000 revenue for service rendered to patients: received cash of P2,000 and sent bills to patients for the remainder. | ||
| 15 | Borrowed P50,000 from the bank, signing a note payable | ||
| 22 | Performed service for patients on account, P3,600 | ||
| 30 | Received cash from patients billed on September 3, P2,000 | ||
| 31 | Received and paid a utility bill, P200 | ||
| 31 | Paid monthly salary to nurses, P3,000 | ||
| 31 | Paid interest expense of P200 |
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