Presented below are the transactions of Muriel's Fresh Wash Laundry Services for the month of October 2015. Journalize the transactions, prepare the T-accounts, prepare the chart of accounts and the unadjusted trial balance. 2015 October October 1 Muriel borrowed P420, 000 cash from her father and invested it in the business. 2 Borrowed P150, 000 from Mr. McKenzie and signed a promissory note. 5 Bought P2, 200 laundry supplies on credit form Uni-Mart. 6 Laundry services rendered to clients for cash, P9, 000. 9 Laundry services rendered to Ms. Gisel on account, P4, 000. 11 Paid Uni-Mart for the laundry supplies 14 Paid Mr. McKenzie P150, 000 for the loan 18 Paid the electric bill to Meralco, P3, 200 19 Paid the telephone bill for the month, P980 October October October October October October October October 20 Collected account from Ms. Gisel 22 Withdrew P25, 000 for personal use 30 Paid store assistant's salary. P6, 000 October October

Presented below are the transactions of Muriel's Fresh Wash Laundry Services for the month of October 2015. Journalize the transactions, prepare the T-accounts, prepare the chart of accounts and the unadjusted trial balance. 2015 October October 1 Muriel borrowed P420, 000 cash from her father and invested it in the business. 2 Borrowed P150, 000 from Mr. McKenzie and signed a promissory note. 5 Bought P2, 200 laundry supplies on credit form Uni-Mart. 6 Laundry services rendered to clients for cash, P9, 000. 9 Laundry services rendered to Ms. Gisel on account, P4, 000. 11 Paid Uni-Mart for the laundry supplies 14 Paid Mr. McKenzie P150, 000 for the loan 18 Paid the electric bill to Meralco, P3, 200 19 Paid the telephone bill for the month, P980 October October October October October October October October 20 Collected account from Ms. Gisel 22 Withdrew P25, 000 for personal use 30 Paid store assistant's salary. P6, 000 October October

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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