Journalize the following selected transactions for the month of Jan. 2013. Jan. 5 Jan. 8 Jan....

 

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Journalize the following selected transactions for the month of Jan. 2013. Jan. 5 Jan. 8 Jan. 10 Jan 12 Jan. 13 Jan. 15 Jan. 17 Jan. 20 Jan. 22 Jan. 30 Jan. 30 Jan. 30 Jan. 30 Jan. 31 Jan. 31 Sold merchandise on account - PhP20,000 with terms of 10% trade discount; 20% d/p; 2/10, n/30; freight charges - PhP1,500 FOB destination collect Purchased merchandise on account - PhP50,000 with terms of 20% trade discount; 50% down; 10/2, 2/10 Partial collection on Jan. 5 transaction - PhP4,000 Cash sales to walk-in customers PhP5,000 Returned merchandise from Jan. 8 purchases, PhP2,000 due to defects Partial payment of Jan. 8 transaction, PhP7,500 Payment of rental in advance for 1 year, PhP240,000 Received proceeds of bank loan with Bank X, PhP400,000 Full collection of Jan. 5 transaction Full payment of account of Jan. 8 transaction Paid the salaries of employees, PhP45,000 Payment of electricity bill for the month of January, PhP5,500 Purchased merchandise for cash PhP500,000; trade discount 5%, 10%, 15%; 30% down; 10/2, 2/10, 2/30; freight charges PhP5,000; FOB shipping point prepaid Purchase allowance was allowed from Jan. 30 purchases due to some defects Edna, the owner, withdrew PhP2,500 for personal use. Journalize the following selected transactions for the month of Jan. 2013. Jan. 5 Jan. 8 Jan. 10 Jan 12 Jan. 13 Jan. 15 Jan. 17 Jan. 20 Jan. 22 Jan. 30 Jan. 30 Jan. 30 Jan. 30 Jan. 31 Jan. 31 Sold merchandise on account - PhP20,000 with terms of 10% trade discount; 20% d/p; 2/10, n/30; freight charges - PhP1,500 FOB destination collect Purchased merchandise on account - PhP50,000 with terms of 20% trade discount; 50% down; 10/2, 2/10 Partial collection on Jan. 5 transaction - PhP4,000 Cash sales to walk-in customers PhP5,000 Returned merchandise from Jan. 8 purchases, PhP2,000 due to defects Partial payment of Jan. 8 transaction, PhP7,500 Payment of rental in advance for 1 year, PhP240,000 Received proceeds of bank loan with Bank X, PhP400,000 Full collection of Jan. 5 transaction Full payment of account of Jan. 8 transaction Paid the salaries of employees, PhP45,000 Payment of electricity bill for the month of January, PhP5,500 Purchased merchandise for cash PhP500,000; trade discount 5%, 10%, 15%; 30% down; 10/2, 2/10, 2/30; freight charges PhP5,000; FOB shipping point prepaid Purchase allowance was allowed from Jan. 30 purchases due to some defects Edna, the owner, withdrew PhP2,500 for personal use.

Answer rating: 100% (QA)

1 Date 05Jan Accounts Receivable Cash Sales To record sales 05Jan Freight Out Cash To record freight ... View the full answer