Use the following account titles (follow the format on how it is typed): CASH; ACCOUNTS RECEIVABLE; SUPPLIES; BICYCLES; ACCOUNTS PAYABLE; MOLINA, CAPITAL; MOLINA, DRAWINGS; RENTAL REVENUE; WAGES EXPENSE
Marion Molina rents out bicycles. During the month of April, Molina completed the following transactions for his bicycle rental business:
Apr. 2 Began business by placing P100,000 in a business checking account.
3 Purchased supplies on account for P1,500.
4 Purchased ten bicycles for P20,000, paying P10,000 down and agreed to pay the balance in thirty days.
6 Received P4,700 in cash for rentals during the first week of operations.
9 Hired a part-time assistant to help on weekends
13 Received P5,000 in cash for rentals during the second week of operations.
16 Paid the assistant P480 for a weekend’s work.
17 Paid for the supplies purchased on Apr. 3.
23 Billed an entity P1,100 for bicycle rentals for employees’ outing.
30 Transferred P5,000 to personal checking account.
Use the following account titles (follow the format on how it is typed): CASH;
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