Create a journal entry the following transactions using journal sheets. This informations are complete according to what our teacher asked us to do. Please provide the complete and correct answers. Thank you   May 1 Buddy Bungal invested ₱210,000 in Bud's Computer Repair Shop. 2 Purchased repair equipment from Ocean Park for ₱30,000. Check was issued in the amount of ₱18,000 with the balance being placed on account. 8 Repaired a customer's computer billing him for ₱5,000 10 Repaired a customer's computer for ₱8,800 of which 80% was collected with the balance on account. 12 Received andpaid the telephone bill by issuing check in the amount of ₱3,000. 13 Purchased repair supplies by issuing a check in the amount of ₱3,000. 14 Collected the amount due from customer from transaction dated May 8. 18 Hired additional helper for the shop with the salary of ₱5,000 per month 19 Paid ₱9,000 as partial payment for Ocean Park. 20 Repaired customer's computer and collected ₱6,000. 25 Received electric bill for the month amounting to ₱1,500. 30 Buddy Bungal withdrew ₱5,000 for personal use

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Create a journal entry the following transactions using journal sheets. This informations are complete according to what our teacher asked us to do. Please provide the complete and correct answers. Thank you

 

May 1 Buddy Bungal invested ₱210,000 in Bud's Computer Repair Shop.

2 Purchased repair equipment from Ocean Park for ₱30,000. Check was issued in the amount of ₱18,000 with the balance being placed on account.

8 Repaired a customer's computer billing him for ₱5,000

10 Repaired a customer's computer for ₱8,800 of which 80% was collected with the balance on account.

12 Received andpaid the telephone bill by issuing check in the amount of ₱3,000.

13 Purchased repair supplies by issuing a check in the amount of ₱3,000.

14 Collected the amount due from customer from transaction dated May 8.

18 Hired additional helper for the shop with the salary of ₱5,000 per month

19 Paid ₱9,000 as partial payment for Ocean Park.

20 Repaired customer's computer and collected ₱6,000.

25 Received electric bill for the month amounting to ₱1,500.

30 Buddy Bungal withdrew ₱5,000 for personal use

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