Make a Journal Entry to each transactions below: Date June 2, 2020 Purchased 250 units of merchandise at P30 per unit and paid P7,500 in cash June 7, 2020 Sold merchandise for P1,000 June 10, 2020 Sold merchandise for P2,000 on account June 14, 2020 Paid rent in advance P5,000 as downpayment and the remaining balance of P5,000 to be paid at the end of the month. June 19, 2020 Received electricity bill amounting to P1,500. June 21, 2020 Sold goods amounting to P3,000 June 24, 2020 Sold goods on account for P5,000 June 27, 2020 Purchased supplies worth P500. June 29, 2020 Paid salary to employees of P1,000 June 30, 2020 Paid the remaining balance of P5,000 for rent.
Make a Journal Entry to each transactions below: Date June 2, 2020 Purchased 250 units of merchandise at P30 per unit and paid P7,500 in cash June 7, 2020 Sold merchandise for P1,000 June 10, 2020 Sold merchandise for P2,000 on account June 14, 2020 Paid rent in advance P5,000 as downpayment and the remaining balance of P5,000 to be paid at the end of the month. June 19, 2020 Received electricity bill amounting to P1,500. June 21, 2020 Sold goods amounting to P3,000 June 24, 2020 Sold goods on account for P5,000 June 27, 2020 Purchased supplies worth P500. June 29, 2020 Paid salary to employees of P1,000 June 30, 2020 Paid the remaining balance of P5,000 for rent.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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| Date | |
| June 2, 2020 | Purchased 250 units of merchandise at P30 per unit and paid P7,500 in cash |
| June 7, 2020 | Sold merchandise for P1,000 |
| June 10, 2020 | Sold merchandise for P2,000 on account |
| June 14, 2020 | Paid rent in advance P5,000 as downpayment and the remaining balance of P5,000 to be paid at the end of the month. |
| June 19, 2020 | Received electricity bill amounting to P1,500. |
| June 21, 2020 | Sold goods amounting to P3,000 |
| June 24, 2020 | Sold goods on account for P5,000 |
| June 27, 2020 | Purchased supplies worth P500. |
| June 29, 2020 | Paid salary to employees of P1,000 |
| June 30, 2020 | Paid the remaining balance of P5,000 for rent. |
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