Directions: Read the statements carefully. Record the following business transactions in The General Journal. Post and Prepare a Trial Balance 1. January 1- Ms. Gutierrez invested the following: a) Bank deposit with Banco de Oro, P850,000 b) Merchandise with net realizable value of P250,000; c) Transportation Equipment with fair market value of P1,800,000. 2. January 2- Purchased merchandise in cash from Rowena Tuyor Trading costing P150,000 and paid freight and handling, P2,500. 3. January 3 -Returned P3,000 cost of merchandise to Rowena Tuyor Trading due to some defects and no replacements have been made.

Directions: Read the statements carefully. Record the following business transactions in The General Journal. Post and Prepare a Trial Balance 1. January 1- Ms. Gutierrez invested the following: a) Bank deposit with Banco de Oro, P850,000 b) Merchandise with net realizable value of P250,000; c) Transportation Equipment with fair market value of P1,800,000. 2. January 2- Purchased merchandise in cash from Rowena Tuyor Trading costing P150,000 and paid freight and handling, P2,500. 3. January 3 -Returned P3,000 cost of merchandise to Rowena Tuyor Trading due to some defects and no replacements have been made.

Excel Applications for Accounting Principles

4th Edition

ISBN:9781111581565

Author:Gaylord N. Smith

Publisher:Gaylord N. Smith

ChapterMB: Model-building Problems

Section: Chapter Questions

Problem 3M

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Hi i need help on what is the answer for this. I hope you can help me
1. Determine the total amount credited to cash account in cash payments journal. 2. Determine the balance of accounts payable - clifford company as of october 31
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Subject: acounting
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