Identify what special journal that is applicable for the following transactions: 1. Collected PHP10,000 from a...

 

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Identify what special journal that is applicable for the following transactions: 1. Collected PHP10,000 from a customer in payment of his account. 2. Bought 100 pieces of mugs to be sold in the store amounting to PHP1,500 on account. 3. Sold five pieces of mugs to X, PHP320 cash 4. Sold two pieces of mugs to Y, PHP112 cash 5. Purchased office supplies for cash, PHP500. 6. Paid PHP20,000 monthly rental. 7. Paid salary of staff, PHP15,000 8. Sold 100 pieces of mugs to Unicup, Inc., PHP5,600 on account. 9. Sold 500 pieces of mugs to Bugsmore Corp. for PHP15,300 payable one month after delivery. 10. Purchase on account 1,000 pieces of mugs for PHP12,400 Identify what special journal that is applicable for the following transactions: 1. Collected PHP10,000 from a customer in payment of his account. 2. Bought 100 pieces of mugs to be sold in the store amounting to PHP1,500 on account. 3. Sold five pieces of mugs to X, PHP320 cash 4. Sold two pieces of mugs to Y, PHP112 cash 5. Purchased office supplies for cash, PHP500. 6. Paid PHP20,000 monthly rental. 7. Paid salary of staff, PHP15,000 8. Sold 100 pieces of mugs to Unicup, Inc., PHP5,600 on account. 9. Sold 500 pieces of mugs to Bugsmore Corp. for PHP15,300 payable one month after delivery. 10. Purchase on account 1,000 pieces of mugs for PHP12,400

Answer rating: 100% (QA)

Answer The special journals applicable for the given transactions are as follows 1 Cash Receipts Jou... View the full answer