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Directions: The following are transactions from Marvin Hernandez's book of account. Decide which journal to use in each of the given transactions. Write the letters of your answer on the separate sheet of раper. A. Cash Receipts Journal B. Cash Disbursement Journal C. General Journal D. Sales Journal E. Purchase Journal 1. Collected Php10,000.00 from a customer in payment of his account 2. Bought 100 pieces of mugs to be sold in the store amounting to Php1,500.00 on credit 3. Sold five pieces of mugs to Mr. X, Php 320.00 cash 4. Sold two pieces of mugs to Mr. Y, Php 112.00 cash 5. Purchased office supplies for cash, Php 500.00 6. Paid Php 20,000.00 monthly rental 7. Paid salary of staff, Php15,000.00. 8. Sold 100 pieces of mugs to Cuppy, Inc., Php 5,600.00 on account 9. Sold 500 pieces of mugs to Muggy Corp. for Php 15,300.00 payable one month after delivery 10. Purchased on account 1,000 pieces of mugs for Php12,400.00

Directions: The following are transactions from Marvin Hernandez's book of account. Decide which journal to use in each of the given transactions. Write the letters of your answer on the separate sheet of раper. A. Cash Receipts Journal B. Cash Disbursement Journal C. General Journal D. Sales Journal E. Purchase Journal 1. Collected Php10,000.00 from a customer in payment of his account 2. Bought 100 pieces of mugs to be sold in the store amounting to Php1,500.00 on credit 3. Sold five pieces of mugs to Mr. X, Php 320.00 cash 4. Sold two pieces of mugs to Mr. Y, Php 112.00 cash 5. Purchased office supplies for cash, Php 500.00 6. Paid Php 20,000.00 monthly rental 7. Paid salary of staff, Php15,000.00. 8. Sold 100 pieces of mugs to Cuppy, Inc., Php 5,600.00 on account 9. Sold 500 pieces of mugs to Muggy Corp. for Php 15,300.00 payable one month after delivery 10. Purchased on account 1,000 pieces of mugs for Php12,400.00

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Decide which journal to use in each of the given transactions 

Directions: The following are transactions from Marvin Hernandez's book of account. Decide which journal to use in each of the given transactions. Write the letters of your answer on the separate sheet of paper. A. Cash Receipts Journal B. Cash Disbursement Journal C. General Journal D. Sales Journal E. Purchase Journal 1. Collected Php10,000.00 from a customer in payment of his account 2. Bought 100 pieces of mugs to be sold in the store amounting to Php1,500.00 on credit 3. Sold five pieces of mugs to Mr. X, Php 320.00 cash 4. Sold two pieces of mugs to Mr. Y, Php 112.00 cash 5. Purchased office supplies for cash, Php 500.00 6. Paid Php 20,000.00 monthly rental 7. Paid salary of staff, Php15,000.00. 8. Sold 100 pieces of mugs to Cuppy, Inc., Php 5,600.00 on account 9. Sold 500 pieces of mugs to Muggy Corp. for Php 15,300.00 payable one month after delivery 10. Purchased on account 1,000 pieces of mugs for Php12,400.00
Transcribed Image Text:Directions: The following are transactions from Marvin Hernandez's book of account. Decide which journal to use in each of the given transactions. Write the letters of your answer on the separate sheet of paper. A. Cash Receipts Journal B. Cash Disbursement Journal C. General Journal D. Sales Journal E. Purchase Journal 1. Collected Php10,000.00 from a customer in payment of his account 2. Bought 100 pieces of mugs to be sold in the store amounting to Php1,500.00 on credit 3. Sold five pieces of mugs to Mr. X, Php 320.00 cash 4. Sold two pieces of mugs to Mr. Y, Php 112.00 cash 5. Purchased office supplies for cash, Php 500.00 6. Paid Php 20,000.00 monthly rental 7. Paid salary of staff, Php15,000.00. 8. Sold 100 pieces of mugs to Cuppy, Inc., Php 5,600.00 on account 9. Sold 500 pieces of mugs to Muggy Corp. for Php 15,300.00 payable one month after delivery 10. Purchased on account 1,000 pieces of mugs for Php12,400.00
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