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in The 8.) Record the following transactions of Vista Trading which took place during the fin month of business operations. Use special journals. Mr. Vietor Tablante invested P50,000 cash in a trading firm registered Oct. 1 Vista Trading. Paid business taxes and licenses amounting to P750. 5- Paid rent for the month of P3,500. Cash sales for the week amounted to P8,200. Purchased merchandise from Paramount Supply Company for 13,000 2- 6. 10 Terms: Less 5%, 2/10, n/30 Sold merchandise to R. Martirez for P4,000. terms: 25% downpayment, 12- balance n/30. Purchased merchandise from Crown Enterprises for P13,000. terms:26 13 - 30. Paid freight on the above purchase, P550. Sold merchandise to O. Santos for P6,000 for which we accepted a 15-154 promissory note. Cash sales for the week amounted to P4,200. 14 15 16 Paid one-half of our account with Paramount Supply Company. Paid in full account with Crown Enterprises. 17 - 18 Sold merchandise to Apo Trading for P10,000. Terms: 2/15, n/30. Paid in full balance of account with Paramount Supply. Received defective merchandise items returned by Apo Trading for which we gave credit of P3,500, 23 - Cash sales for the week amounted to P3,500. Received defective merchandise items returned by various cash customeri for which we gave a cash refund of P350. Purchased merchandise from MRC Trading for P2,750. Terms: C.O.D. 29 19 20 - 22 24 - 27 Collected in full account of Apo Trading. Collécted in full note of O. Santos plus interest due therein. Paid salaries for the month amounting to P12,000. 30 31 Record in special journals the follau which

in The 8.) Record the following transactions of Vista Trading which took place during the fin month of business operations. Use special journals. Mr. Vietor Tablante invested P50,000 cash in a trading firm registered Oct. 1 Vista Trading. Paid business taxes and licenses amounting to P750. 5- Paid rent for the month of P3,500. Cash sales for the week amounted to P8,200. Purchased merchandise from Paramount Supply Company for 13,000 2- 6. 10 Terms: Less 5%, 2/10, n/30 Sold merchandise to R. Martirez for P4,000. terms: 25% downpayment, 12- balance n/30. Purchased merchandise from Crown Enterprises for P13,000. terms:26 13 - 30. Paid freight on the above purchase, P550. Sold merchandise to O. Santos for P6,000 for which we accepted a 15-154 promissory note. Cash sales for the week amounted to P4,200. 14 15 16 Paid one-half of our account with Paramount Supply Company. Paid in full account with Crown Enterprises. 17 - 18 Sold merchandise to Apo Trading for P10,000. Terms: 2/15, n/30. Paid in full balance of account with Paramount Supply. Received defective merchandise items returned by Apo Trading for which we gave credit of P3,500, 23 - Cash sales for the week amounted to P3,500. Received defective merchandise items returned by various cash customeri for which we gave a cash refund of P350. Purchased merchandise from MRC Trading for P2,750. Terms: C.O.D. 29 19 20 - 22 24 - 27 Collected in full account of Apo Trading. Collécted in full note of O. Santos plus interest due therein. Paid salaries for the month amounting to P12,000. 30 31 Record in special journals the follau which

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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Kindly answer number 8. Thank you

O Record in special journals the following transactions of Emmanuel Trading which Purchased merchandise from San Jose Company for P6,500. Terma, 20 Purchased merchandise from Paramount Supply Company for 13,000 Sold merchandise to R. Martirez for P4,000. terms: 25% downpayment, Collected in full account of Minalin Traders. Paid for cost of advertisement, Received defective merchandise items returned by Minalin Traders f official receipts start with no. 001; cash vouchers with no. 1001; sales invoices with took place in the first month of operations. Business papers are numbered asfollows 8. Record the following transactions of Vista Trading which took place during the fin Oct. 1 - Mr. Victor Tablante invested P50,000 cash in a trading firm registered En Emmanuel 29 - which we gave credit of P150. 3- Bought ato Purchased 30 Jan. 2- n/30. 31 in The Daily Star amounting to P1,500. terms: 1/10 5- Sold mercl Sold merc month of business operations. Use special journals. Bought of Received defects on 6- Vista Trading. 2 - Paid business taxes and licenses amounting to P750. Paid rent for the month of P3,500. Cash sales for the week amounted to P8,200. Sold merc Purchase downpay Paid Tra 5 - 6 - 9 - 10 Terms: Less 5%, 2/10, n/30 10 - Paid sala taxes tot 12 - balance n/30. 11 - Purchased merchandise from Crown Enterprises for P13,000. terms:25 13- Sold Me Collected 30. 12 Paid freight on the above purchase, P550. Sold merchandise to O. Santos for P6,000 for which we accepted a 15-154 promissory note. Cash sales for the week amounted to P4,200. 14 - 15 15 Paid Ace 16 Discoun Bank. 18 16 17 Paid one-half of our account with Paramount Supply Company. Paid in full account with Crown Enterprises. Purchas Invoice 19 18 Sold merchandise to Apo Trading for P10,000. Terms: 2/15, n/30. Paid in full balance of account with Paramount Supply. Received defective merchandise items returned by Apo Trading for which we gave credit of P3,500. 23 The pro to sell f Sold me 19 - 20 - 20 22- 22 23 Purcha Invoice Sold m Cash sales for the week amounted to P3,500. 24 Received defective merchandise items returned by various cash customen for which we gave a cash refund of P350. 24 - 27 25 Collect Purchased merchandise from MRC Trading for P2,750. Terms: C.0.D. 29 Collected in full account of Apo Trading. 26 Paid f postag Paid T 30 Collected in full note of O. Santos plus interest due therein. 28 31 Paid salaries for the month amounting to P12,000. 29 Sold m 30 Gave 10 Set up the sub no. 96-001 and journal vouchers with no. 96-1. Emmanuel TT accounts: 122 599
Transcribed Image Text:O Record in special journals the following transactions of Emmanuel Trading which Purchased merchandise from San Jose Company for P6,500. Terma, 20 Purchased merchandise from Paramount Supply Company for 13,000 Sold merchandise to R. Martirez for P4,000. terms: 25% downpayment, Collected in full account of Minalin Traders. Paid for cost of advertisement, Received defective merchandise items returned by Minalin Traders f official receipts start with no. 001; cash vouchers with no. 1001; sales invoices with took place in the first month of operations. Business papers are numbered asfollows 8. Record the following transactions of Vista Trading which took place during the fin Oct. 1 - Mr. Victor Tablante invested P50,000 cash in a trading firm registered En Emmanuel 29 - which we gave credit of P150. 3- Bought ato Purchased 30 Jan. 2- n/30. 31 in The Daily Star amounting to P1,500. terms: 1/10 5- Sold mercl Sold merc month of business operations. Use special journals. Bought of Received defects on 6- Vista Trading. 2 - Paid business taxes and licenses amounting to P750. Paid rent for the month of P3,500. Cash sales for the week amounted to P8,200. Sold merc Purchase downpay Paid Tra 5 - 6 - 9 - 10 Terms: Less 5%, 2/10, n/30 10 - Paid sala taxes tot 12 - balance n/30. 11 - Purchased merchandise from Crown Enterprises for P13,000. terms:25 13- Sold Me Collected 30. 12 Paid freight on the above purchase, P550. Sold merchandise to O. Santos for P6,000 for which we accepted a 15-154 promissory note. Cash sales for the week amounted to P4,200. 14 - 15 15 Paid Ace 16 Discoun Bank. 18 16 17 Paid one-half of our account with Paramount Supply Company. Paid in full account with Crown Enterprises. Purchas Invoice 19 18 Sold merchandise to Apo Trading for P10,000. Terms: 2/15, n/30. Paid in full balance of account with Paramount Supply. Received defective merchandise items returned by Apo Trading for which we gave credit of P3,500. 23 The pro to sell f Sold me 19 - 20 - 20 22- 22 23 Purcha Invoice Sold m Cash sales for the week amounted to P3,500. 24 Received defective merchandise items returned by various cash customen for which we gave a cash refund of P350. 24 - 27 25 Collect Purchased merchandise from MRC Trading for P2,750. Terms: C.0.D. 29 Collected in full account of Apo Trading. 26 Paid f postag Paid T 30 Collected in full note of O. Santos plus interest due therein. 28 31 Paid salaries for the month amounting to P12,000. 29 Sold m 30 Gave 10 Set up the sub no. 96-001 and journal vouchers with no. 96-1. Emmanuel TT accounts: 122 599
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