pr3pare the journal entries
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
pr3pare the journal entries

Transcribed Image Text:who promised to pay her P6,000 after thirty days.
22 Purchased paper for the fax machine and paid cash, P1,500.
25 Purchased furniture and fixtures on credit, P8,000.
28 Paid one half of the account owing to Camera Work and issued a note promising to
pay the balance within 30 days.
TODO

Transcribed Image Text:58
15. Cely Kalaw started a new business in advertising called the Straight and True Advertising.
The following are the transactions which you are required to summarize using the
Copyclear format. Extract the balances only after the last transaction. Include money
columns for Cash, Art Supplies, Office Supplies, Equipment, Furniture and Fixtures,
Accounts Payable, Notes Payable and Kalaw, Capital.
Feb 5 She transferred half of her P300,000 savings to the account of the business.
09 Purchased art supplies and paid P15,000 in cash.
16 Purchased photo equipment at a cost of P105,000 from Camera Work. She paid
one third and promised to pay another one third at the end of the month.
20 A friend, Lisa, bought a fax machine a year ago for P10,000. She sold this to Cely
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