Transcribed Image Text:Oct-15
Purchases
510
2,500
Cash
101
2,500
To record additional purchase on cash
Cash
Oct-18
101
5,000
Sales
401
5,000
To record sold merchandise on cash
Freight-Out
644
150
Oct-19
Cash
101
150
To record freight on sale
Cash
Oct-21
101
100
Accounts Receivable
112
100
To record refund payment
Salaries Expense
Utilities Expense
Rent Expense
Advertising Expense
2,000
950
1,200
500
Oct-23
630
645
635
631
Cash
101
4,650
To record payment of expenses
Owner's, Drawing
Oct-24
302
1,000
Cash
101
1,000
To record withdrawal
Oct-25
Accounts Receivable
500
Sales
500
To record sales on account
Cash
Notes Payable
To record bank loan
NO ENTRY
Oct-30
101
10,000
202
10,000
Oct-31
Transcribed Image Text:General Journal
Date
Particulars
PR
DR
CR
Oct-01
Cash
101
P30,000
P30,000
Owner's Capital
To record initial investment
Purchases
Accounts Payable
To record purchase on account
Freight-In
301
Oc-02
510
10,000
201
10,000
Oct-03
516
145
Cash
101
145
To record freight on purchase
Equipment
Oct-06
130
2,400
Cash
101
2,400
To record bought equipment on cash
Accounts Payable
Oc-07
201
2,000
Purchase Returns & Allowances
512
2,000
To record purchase refund
Accounts Receivable
Oct-08
112
4,500
Sales
401
4,500
To record sales on account
Accounts Payable
Purchase Discounts
Oct-09
201
8,000
513
160
Cash
101
7,840
To record payment on account with
2% discount
Sales Returns & Allowances
Accounts Receivable
To record refund to credit customer
Cash
Sales Discounts
Accounts Receivable
To record collection from sales on
account
Oct-11
412
200
112
200
Oct-14
101
4,214
413
86
112
4,300
Definition Definition Net amount of cash that an entity receives and expends over the course of a given period. For a business to continue operating, positive cash flows are required, and they are also necessary to produce value for investors. Investors in particular prefer to see growing cash flows even after capital expenditures have been paid for (which is known as free cash flow).
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
