On April 5, Timothy established an interior decorating business, Tim's Design, with a cash investmen P200,000. Timothy completed the following transactions for April: 6 Paid rent for the month, P8,000. 7 Purchased from Delta Co. office equipment, P55,000 8 Purchased a used car for P180,000, paying P80,000 cash and taking a bank loan for the

On April 5, Timothy established an interior decorating business, Tim's Design, with a cash investmen P200,000. Timothy completed the following transactions for April: 6 Paid rent for the month, P8,000. 7 Purchased from Delta Co. office equipment, P55,000 8 Purchased a used car for P180,000, paying P80,000 cash and taking a bank loan for the

Name: JOUBNAL entbiesOn April 5, Timothy established an interior decorating
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Description: JOUBNAL entbiesOn April 5, Timothy established an interior decorating business, Tim's Design, with a cash investmenP200,000. Timothy completed the following transactions for April:6 Paid rent for the month, P8,000.7 Purchased from Delta Co. office e

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter5: Sales And Receivables

Section: Chapter Questions

Problem 48BE: Collection of Amounts Previously Written Off Hannah purchased a laptop computer from Perry Corp. for...

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REQUIREMENT: JOURNAL ENTRIES
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Harris Welding Company had the following transactions for June. June 1 Tyler Harris invested $9550 cash in a small welding business June 2 Bought used welding equipment on account for $3050 June 5 Hired an employee to start work on July 15. Agreed on a salary of $3390 per month June 17 Billed P. White $2230 for welding work done. June 27 Received $1220 cash from P.White for work billed on June 17. For each transaction, indicate the basic type of account debited/credited, specific account debited/credited on the account and the amount
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