III Journalize the following selected transactions for Barok's Footwear located in Bayombong. 12% VAT is included in all sales. Assume freight is VAT-exempt. Credit term is 3 eom, n/60 with a 30% downpayment. 2015 1 Sold goods on account to RO Supermart, P33,600. 2P 2,500 freight prepaid for RO Supermart under the terms FOB shipping point. 5 Sold goods to Divisoria Footwear, P16,800. Term: COD 8 Sold goods on account to Shoe-Galing, P56.000. FOB destination. 9 Paid freight on the Shoe-Galing shipment to Cebu, P1,550. 13 RO Supermart paid P15,000. 15 Sold goods to Angeles Shoe Shop worth PP13,440. 18 Issued a credit memo to Shoe-Galing, P2,240. 28 RO Supermart paid its account in full. 30 Shoe-Galing paid P15,000 and issued a 20-day, 12% note for the balance. Mar

III Journalize the following selected transactions for Barok's Footwear located in Bayombong. 12% VAT is included in all sales. Assume freight is VAT-exempt. Credit term is 3 eom, n/60 with a 30% downpayment. 2015 1 Sold goods on account to RO Supermart, P33,600. 2P 2,500 freight prepaid for RO Supermart under the terms FOB shipping point. 5 Sold goods to Divisoria Footwear, P16,800. Term: COD 8 Sold goods on account to Shoe-Galing, P56.000. FOB destination. 9 Paid freight on the Shoe-Galing shipment to Cebu, P1,550. 13 RO Supermart paid P15,000. 15 Sold goods to Angeles Shoe Shop worth PP13,440. 18 Issued a credit memo to Shoe-Galing, P2,240. 28 RO Supermart paid its account in full. 30 Shoe-Galing paid P15,000 and issued a 20-day, 12% note for the balance. Mar

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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