Journalize the transactions in a merchandising business in general journal - purchase and sale. Write your answer on a columnar sheet. On January 15, Aeron Trading purchased from Victoria Merchandising goods amounting to ₱30,000 on term 50% down, balance 2/10, n/30. The next day, Aeron Trading issued a ₱2,000 debit memorandum to Victoria Merchandising for the return of defective merchandise bought. On January 20, Aeron Trading paid ₱10,000 as partial payment. Aeron Trading settled in full the outstanding account with Victoria Merchandising on January 25. 1. Journalize the above transactions using periodic inventory system and general journal of:
Journalize the transactions in a merchandising business in general journal - purchase and sale.
Write your answer on a columnar sheet.
On January 15, Aeron Trading purchased from Victoria Merchandising goods amounting to ₱30,000
on term 50% down, balance 2/10, n/30. The next day, Aeron Trading issued a ₱2,000 debit
memorandum to Victoria Merchandising for the return of defective merchandise bought. On January
20, Aeron Trading paid ₱10,000 as partial payment. Aeron Trading settled in full the outstanding
account with Victoria Merchandising on January 25.
1. Journalize the above transactions using periodic inventory system and general
journal of:
A. Aeron Trading
B. Victoria Merchandising
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