In this table please provide journalizing
Bad Debts
At the end of the accounting period, a financial statement is prepared by every company, then at that time while preparing the financial statement, the company determines among its total receivable amount how much portion of receivables is collected by the company during that accounting period.
Accounts Receivable
The word “account receivable” means the payment is yet to be made for the work that is already done. Generally, each and every business sells its goods and services either in cash or in credit. So, when the goods are sold on credit account receivable arise which means the company is going to get the payment from its customer to whom the goods are sold on credit. Usually, the credit period may be for a very short period of time and in some rare cases it takes a year.
In this table please provide journalizing
![MARCH
Covida invested cash amounting to P300,000 to the
OMICRONO CAR WASH LINIS
Business
Paid P5.000 to Mr. Juanito for all the business licenses
requirements
Purchased office supplies amounting to P3,000 from National
Book Store
of
The business paid rent for the month amounting P10,000 to
Mr. Saul
Covida hired secretary with the salary of 5,000 monthy
Purchased car wash supplies from AGP merchandise
amounting to P15,000
Rendered services to various clients and per official receipts,
the total amount received totaled to P50,000
paid salary for the half month amounting to P15,000
Rendered car wash services on account amounting to P25,000
Of the one his employee retire effective this day
cash received for the services rendered for the week amounts
to P20.000
Collected P15,000 from custormer who availed of services on
10
15
16
18
19
20
account
23
24
Covida withdrew P5,000 cash from the business
Paid the salary for the last half of the month amounting to
P15,000
Pg. 35
25
Paid P8,000 for water and electricity consumption for the
month
Her husband celebrated his birthday in the office brought
cake worth P3,000.
Paid the utility P1,000, miscellaneous 500, transportation 200
Spend P10,000 for the anniversary of their wedding held in the
shop.
28
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