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Please prepare journal entries and T accounts.

Please prepare journal entries and T accounts.

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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Please prepare journal entries and T accounts.

June 21 Paid employees' wages for June 8-June 21. Wages totaled P18,500. June 21 Received P15,200 in cash for services rendered to clients on June 20. June 22 Received P8,300 in cash as advanced payment from clients. June 27 Office supplies were purchased totaling P5,300 on account. June 28 Electricity bill received totaling P2,850. June 28 Phone bill received totaling P2,450. June 28 Miscellaneous expenses totaled P5,120.
Transcribed Image Text:June 21 Paid employees' wages for June 8-June 21. Wages totaled P18,500. June 21 Received P15,200 in cash for services rendered to clients on June 20. June 22 Received P8,300 in cash as advanced payment from clients. June 27 Office supplies were purchased totaling P5,300 on account. June 28 Electricity bill received totaling P2,850. June 28 Phone bill received totaling P2,450. June 28 Miscellaneous expenses totaled P5,120.
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