Cuarter 5 JOURNALIZING TRANSACTIONS (187 Step of the Accounting Process) Learning Objectives: After studying this chapter, we should be able to: 4. understand that by knowing the source documents as the first sequential step, we would be able to determine the value received and value parted with, leading to the journalizing process; 2. know what are the books of accounts, the use General Ledger; find out that the charts are the same with the accounts that are found in of a General Journal and a the General Ledger; increase our learning through the illustrative Problem: Laundry Services wherein we would be qble to see the actual Journalizing procedures and the correction of an erroneous journal entry. Se SOURCE DOCUMENTS The actual sequence of events begins with the identification of transactions. What transactions are considered as accountable and what are not. The rule is, only transactions and events which are of financial bearing to the business are being recognized. the supporting business documents that are f transactions to assure the reliability and Verifiability of records. The most common documents of a service concern business are customers! and suppliers’ sales invoices, official receipts, purchase orders, feceiving reports, delivery receipts, cash vouchers, checks, etc. After identifying, The basis of identifying transactions are on file or yet to be filed as evidence o! 105[At this juncture, itis worthy to mention the 's the unit-of-measure or stable monetary tn our would-be illustrative problem, Davao Laundry Service: the following series of documents completing transactions, stake a look ate DAVAO LAUNDRY SERVICES, City Half Dive, Davao Cyee5_—_—_—_—————————— {A check is always accompanied by a check voucher when that appeared ion ofthe ch whatever nature. Check No 7 typewritten at the right top mo Acheck pueda lev cteashor aa saber cah oe J lreash. Tis canctere reams epson baer epics topaye bok aor Invoice # sMcrTy- DAVAO Ecoland, Davao City OFFICAL neces In settlement ofthe ft: —Amguet 350357 25,000.00 Date: Mar (partial) a FCN tom avk0 ULNDRY Stns tenet ect ‘owas Payment in form of: : Cre say rie Accounts Receivable ~ Davao Laundry Services ‘These complete the transaction ‘SM City - Davao, the supplier. es 108, ouird oss 78 BAVAOLAUNDRY SERVICES ae a bate ravTo 1 —March25,204 ‘orocror ~—SMOITY-DAVAQ __ ° 25.009 | PESOS TWENTY-FIVE THOUSAND PESOS ONLY. | ye oy EANDBANK Se incon ener > veuez ios... SSesn 1 payments the check was bbe prepared by SM Gtr Davao acknowledging ‘| have received payments from Davao tavrdn Services tween Davao Laundry Services, the customer and yeoman — ps VRS [ACCRUAL BASIS OF RECORDING INCOME AND EXPENSES deren vss nce is eared on whe ah under are recoried only wh aid. 1 pent picture Of he expenses incurred when not yet parison of CASH RECEIPTS and CASH the other hand, records income even cash is not received yet for a5 ‘expenses are recorded even no payment has been 1. This practice results to a proper matching expenses and could therefore show 2 .e acerual basis assumption and the fifth ting assumption that we have studied. rdthe last account uote-ENTRY VERSUS DOUBLE-ENTRY SYSTEM OF BOOKKEEPING usually used by small business enterprises. she single-entry bookkeeping system is involing cash and personal accounts are Under this system, only transactions recognized. bookkeeping recognizes the twofold effects of 2 and the value parted with. This justifies the equality muse of the two-fold effects recognition, both sides always be equal the double-entry system of transaction; the value received, of debit and credit amounts. ofthe fundamental equation Jhistextbook illustrates the double-entry system of bookkeeping, BOOKS OF ACCOUNTS ce used by the business. They are the “book of “a entry”, The book of orginal entry ts called the SPECIAL JOURNAL. There are two sets of books that a cniginal entry” and the “book of fin “JOURNAL” which is of two kinds; the GENERA This called the book of original entry because ‘re recorded for re. he “LEDGER” which is also of two Kinds; the is is called book of final entry 109 The book of final entry is called tt GENERAL LEDGER and the SUBSIDIARY LEDGER. Thithis book where transactions that were recorded in the Joyy 1 ledger for final recordin aay ‘BOOKS OF ORIGINAL ENTRY-JOURNAL GENERAL JOURNAL General Journal can that be of a Toose-leof” or “book-bound” form. It has the following columnar headings: DATE COLUMN ~ shows the date when the transactions took place. The im that appeor in the journal must be in a “chronologex order” which means that the entries ore recorded in aa of the date of occurrence. PARTICULARS ~ shows the item or the accounts debited and credited ex» result ofo transaction analysis os well cs ¢ brief or cone explanation of what the transaction is about. Fouo + shows the number ofan account ina leciger or page ofo 's the Loin word DEBIT COLUMN «ti ae oa son volue received in a transaction. : CREDIT COLUMN - this isthe money column showing the amount of the vabe arted with ino transaction, ‘Shown below is a page of a General Journal: ‘Account No. Year edit ‘onth]oor ‘The entry that is made i may be “SIMPLE” compres eed “COMPOUND”, “JOURNAL ENTAY*. A Journal eatY 110 | fe journal entry is one that has one debit item with a debit amount and one Arm 9 ret amount a spown below is 2 formation of a simple journal entry. Page no. ari Particulars F] Debit | Creait bay] Debit em [ Mon Credit item Explanation of the nature of transactions. ‘compound journal entry is one that may have one debit item and two or more mesititems; two OF more debit items and one credit item; or may have two or more items on both sides. ‘Aso shown below is the formation of a compound journal entry with two debit and cedititems: Page No. Year Panicle IF ‘Month [Day | Debit Item T t Debit tem i Credit item 1 Credit tem | Explanation of the nature of “transactions. SPECIAL JOURNALS ~ under special jourals, each book or journal has a specific use in recording transactions. The special journals are often used in merchandising ‘tives. Therefore, there willbe a division of labor as there could only be one employee to handle one special journal The rules of debit and credit are also observed in recording transactions. There are four (4) kinds of special journals. These are as follows: 1 Sales Journal ~to record sales of merchandise on account. 2. Purchases Journal - to record purchase of merchandise on account. 111rou fe discussed under accounting cycle of a ony COLUMNS = a shows the page number of a Journal where entries ore taken from; the debit money column shows the amounts that are transferred from the debit money column of the Jou! BOOK OF FINAL ENTRY-LEDGER GENERAL LEDGER Individual Assets ‘ecu, Depreciation Es, Uncollectible Recount ‘Aecounts Recewable (ceneea—) whl Journal. poof isa page of GENERAL LEDGER a) tobe used under manual accounting system credit money column shows the amounts ferred from the credit money column of the Account No. Particulars | F | Debit Particulars | F \ \ i 1) tobe used under computer-based accounting system Account No. ‘credit Balance Ageneral ledger has two s right-rand side which i following: DATE COLUMN PARTICULARS a2 counting device that most of vrzing the effects of changes in 3ee ‘Shown below isthe formation of a T-account. Account Title Ee Amount snows one to see if they are in-balance or not. te ‘Debit i Amount Amount Date "This topic in T-account was already discussed in Chapter 4 page 75 of this book ‘SUBSIDIARY LEDGER rested of knowing who 31 indebted from your business? OF cou Brevi you wth stor Schedule of Accounts Reel Accounts Payable. cums If you have an accounts receivable who these debtors are. ‘ubsiia ea ip between controlling accounts 24 subsea ledgers can be based onthe axiom that “the whole of anything i gz the sum ofits parts”. [A general ledger ints skeleton er mis 8 “TACCOUNT”, The use of a T-Account # Drevously dcied is some with that of ledger, mceptha the etn 2d parts a eninate, To determine the ‘account in an expedient manne, 3 es RECORDING PROCESS (er Acou RECORD! business: ot shse of acoun be counting Ths involves 2 stent mane adn ode of a4 inal entry called Journal. The act of recording business transactions in ip called "JOURNALIZING” which isthe fist step of the accounting at is made in the Journal is called “JOURNAL ENTRY”. yurnal is called an “Opening Entry”. This iments of a proprietor who 1s 1e beginning balances lustrated on page 124 (with asterisk*) of this chapter where 20A, the date ‘accounting HART OF ACCOUNTS are being ‘keeper and the exchanges of ransactions are recorded in the gener nt = 1s are prepared bef sxcount fakes ina transaction. Thi in this order: ASSETS, ransaction involves 3n ‘may create an 1e exchanges of she chart of accounts shows account titles which area ABILITIES, OWNER’S EQUITY, INCOME and EXPENS! ‘which is not included in a gives jonal page of the gen he next page isthe chart of accounts of Davao Laundry Services Shown on as‘DAVAO LAUNDAY SERVICES Chart of Accounts ‘Statement of Financial Postion Statement of Comprehensive cme Accounts assets income ‘The Date Column is divi edenel 's divided into two sub-colum the year anc back page. Enter in the occurred. Te PatasCoamn-erni a volue received and the value pared frm fora Etter a theta a nthe The cee ‘ te in ction and have ably ers ected. An indention is made and then enters the eres tems which wil Been bck form incase of tao or more nensare ceded seompete jourmal erty shouts Nave an exiaraton The exparaton cst A erp but concisely the nature of the varsacton. Th ould be indented with a reasonable distance f ‘planation shi SFepe account or item credited. tis usually worded "To record." Toitustrate: The transaction is: “Bought a car on account, P800,000". ‘The explanation would be, “To record car bought on account.” and accountants prefer to cat short the explanation by 1s "To record” instead, "Bought a car on account” to economae which becomes widely acceptable. recording the newt transaction. Write only the date 3. Leave a vacant space before r the date column and the seme procedure & in the second sub-columa of followed. indentions made in preparing the Journal Entry: ie fren in both debit and credit money ou te on how peso amounts were writ 1. The money columns of the Journal provide the segregation of digits for the million, thousands, hundreds, pesos and centavos. These results to the following observations: ‘million ond thousands ond the decimal point ed: 0) the use of comma for for the centavos are 1) the use of peso (0) soso eliminated becouse the debit and credit the use of peso Urtood to be money columns and that peso is used as its valuation: a7a ) the use of the "das dicotes that there is no centavos ‘amount. The "double-zero" may also be used. ny However, under the computerized accounting system, there are no restrict the placing of comma for the thousands/ he decimal point ign * centavos when we type/encode the amount improvised format. —— Mlustrative Problem: Davao Laundry Services {complete Accounting Process for Service Concern) the journals. because g * nvestment by Owner March - ro Santos opens a current account wi nin the amount of PBSO,000 inder the trade name Davao Laundry Servi {At this point, an entity, Davao Laundry Services was created separate and distinct from the owner, Mr. Santos) Analysis: There isan increase in Asset-Cosh in Bank of P850,000 and corresponding increase in Owner's Equity, Sontos, Capitol 850.000. Rule + Debit increasein Asset ond Credit, inrease in Owners auty Journal Entry 20a March Cashin Bonk 950,000 Santos, capital as0,000 Initia avestment. ——-———————— Purchase of Supplies on Credit March? + Puc nny up ‘Se! unde spies inery on secu, p0an0 Kom Pe yentory of ‘Anolysis + There is an increase in AssetLoundry Supe ‘Accounts 90,000 and a corresponding increase in Licbi Payable of 90,000. rule + Debit increase in Asset and Credit, increase in Lioblty Journal Entry rnd Puchose oflundry machine fos, 150000 ays «There isonincrease none om of nasser Epa a (000 and a corresponding decrease jin another form of vin nko? 50000 ule + pebit,easen Ase od Cred, dees in 8 soul 204 March undy Eimer soono taundey Ee ae ‘cash in Bank Purchase machine for cash. 2 eee ered laundry services on account, 780,000 {0 the following Morcha — Rend customers: 13——————— ‘Apo View Hotel P 5,000 _ Grand Men Seng Hotel 35,000 The Marco Polo Hotel 30,000 Royal Mandaya Hotel 10,000 Total Receivable P-_80,000 ‘Analysis: There ison increase in ASset-Accounts Receivable of pa, and corresponding increase in Owner's Equity-Sonts o {increase in income) of P50,000. _. ule: Debit, increase in Asset end Credit, increase in Owner's Eu, Jou 208 March 4 Accounts Receivable 60,000 Laundry income " P 80,000 Services on credit. Payment of Taxes, Licenses and Other Government Dues March 10 - Paid taxes and i th 10 - Paid taxes and licenses due to government, P4,000, Analysis: There is a decrease i There i 0 decrease in Owner’ Equity increase in expense) ,000 and a decrease in Asset-Cash in Bank of P4,000. Rule: De rease in Expense and Credit, decrease in Asset. ms ware 10 Toes 8 eases Cash in Bank oe Paid taxes and licenses. es thd byowner Mardh22 ~ Me Sa Sor hen = thdrew P10,000 cash from the business for his personal uo anolysis + There is 0 decrease in Owners EqultySantos, Cop of 10,000 (increase in drawing) and a corresponding decrease in Asset-Cash in Bank of P10,000. pt + Debit, increase in Drawing and Credit, decrease in Asset. Journal Entry e P 10,000 10,000 ‘Withdrawal by owner. oo sjuance of a Note for Borrowed Money The businéss borrowed mon 100,000 by issuing a 15-day not Davao Laundry Services by way of the bank There is an increase of in Asset-Cash in Bank of P 100,000 and a 1m Land Bank of the Philippines, Match 17 issued by Credit Memorandu Analysis: corresponding increase in Liability Notes Payable of P100,000. ule + Debit, increase in Asset and Credit increase in Liability. Journal Entry 200, March 17 Cash in Bank 100,000 Notes Payable 100,000 rowed money. Issued a 15-day note for borr eee Payment of Interest on Bank Loan 1,000 for interest and bank charges. March 17 - The bank issued a debit memo, ‘Analysis + There is a decrease in Owner’ Equity-Sontos, Copital of P1,000 {increase in Expense) ond o corresponding decrease Asset- Cash in Bank of P2,000. rule + Debit ncreose in Expense ond Crelt, decrease in Asset aaaR aes —— Journal Entry 200 March 17 P 1,000 P 1,000 Bankinterest payment. ———E ee Partial Collection of Accounts Receivable March 21 - Received cash of P45,000 representing collection from the followig customers’ account: Grand Men Seng Hotel P 30,000 ‘The Marco Polo Hotel 10,000 Royal Mandaya Hotel Total Collection Analysis: There is on increase in one form of ar 45,000 and a corresponding decreas Asset Accounts Receivable of P45,000. Rule: Debit, increase in Asset and Credit, decreose in Asset. Journal Entry 200 March 21, Cashin Bank P 45,000 Accounts Receivable 45,000 Partial collection of accounts. t Gaisano taal NCCC mall Total Payable Analysis + There is 0 decr Silty Poyable of P60,0M © decrease in Liability Accounts f PEO Ged @ corresponding decrease in Asset-Cash in Bt Asset saa ssn — ule + Debit, decrease in Liability ond Credit, decrease in Asset. Journal Entry 200 March 25 Accounts Payable 60,000 Cashin Bank P 60,000 Partial payment of accounts. ig of an Acrountant/Manager ch30 = Mr, Severo Santos hired e has plenty of things to 1,208 (No entry s necessary. Non financial data) saymentof Expenses Nareh30 ~The following expenses were pid by Davao Laundry Services for the month of March 208: juntant/manager for his business as he in to at P10,000 per month affective April 5,000 Santos, Copitel of ‘Analysis: There is a decrease in Owner's Equity: of 727,000 (increase in Expense) and a corresponding decrease ‘Asset-Cash in Bank of P27,000. + Debit increase in Expense and Credit, decrease in Asset ule Journal Entry 20a March 30 . P5000 RentExense eae . 10,000 sal » 27,000 Payment of expenses. Ropeo (nee End of the one month transaction. (The foregoing transactions are recorded in the General Journal on pages 128 to 125) GENERAL JOURNAL Grand en Song eh The Marea Fos here Tope Manors He!if idee CORRECTION OF ERRONEOUS ENTRY eatness in recording transactions must be observed. Various erasures especialy in, Joumal might tead to suspicions that there are manipulations done to coverup sxe fraudulent and dishonest practices. though these may be honest mistakes, ere, destroy neatness of records and impair their values. Correction of errors in the Journal depends upon the following circumstances: 1. When the error was immediately discovered prior of entries to hy ledger, the correction can be made by crashing ing. singe ing through the wrong items or accounts and writing the correct amount ote above the cancelled one. This also can be done in figures ifin error. Example: Bought a computer on account, P5,000 The above transaction was erroneously recorded in the General Journal a follows: Office Supplies Expense P 5,000 Accounts Payable P 5,000 Since the correct account that should have been debited is Office Equipmer and not Office Supplies (Expense, the correction & ilustrated as follows: 50,000 8 correcting journal entry if the ercor was committed right ae" lesger a crashing ‘very evident and clear, oftcas Example: “Bought @ computer on account, 50,000". TW ‘rroncous journal entry has been recorded as fll0¥ 126 Tae Review Questions ae eee ‘Wrong Entry Office Supplies Expense ‘Accounts Payable ‘Bought computer on account Correct Entry Office Equipment ‘Accounts Payable Bought computer on account Correcting Entry office Equipment ‘Office Supplies Expense To reclassify the former to the latter account. If the recorded or omitted transaction is “rendered services on Accounts Receivable Service Income ‘Service on account. Whot i identifying? What ore source documents for? What isa double-entry system of bookkeeping? "the usual entry is prepared as follows: 3,000 What are the two (2)sets of books that ore used ond kept by the busines? What isthe significance of the foo column in a jour? What are the ewo (2) kinds of journal? 1277. What are the two (2) kinds of ledger? ‘8. Distinguish o simple journl entry from a compound journal entry? 9. What isan opening journal entry? 10, Whatise chart of cccounts? True or False te letter "7" ifthe statements correct and" 1. A Journal entry is sid to be complete even witheut an “explanation. 12. Erasures in the journal may impair accounting records and can crete suspicion that there are manipulation done. 3. Anerroneous journal entry cannot be corrected anymore. 4. Entries in the journal ae transferred tothe ledger for final recording 5. The use of a peso sign is eliminated specifically in the journal because the debit and credit columns are understood to be money columns and that WE use peso as valuation. 6. Folio in the ledger shows the page number of a journat where the enrits are taken fom. 7. The book of original entry is called ledger. 8. The book of fina entry is ealed journal 9. The steleton form of a general ledger is a T-accourt 10, Doubleentry system of bockheping recognizes the two-fold elects of? tramacton | | | ‘Multiple Choiee-A 1. Encircle the letter of the correct answer in each of the given question. ‘asouree document evidencing that orders have been placed by the customer ‘nating to be served by the supplier 3) purchase request b)_ purchase order lof the following are examples of source documents, except 8) voucher 1t which shows that the customer has already made payment ugh isuance of a €) official receipt b) voucher 4) invoice Across check means that the check s- 4) none of the above Which is not true concerning a Journal? done chronologically simple or compound ger ocess of he routine and mechanical 1d events in a chronologic The phase of accounting which involves t \witing down the business transactions 3% the book of accounts- c) lasing 4) summarizing 4) interpreting 129©) Statementef Comsrehensin ro, 4) Chartof Accounts . Dr. Jonathan Alegre opened a medical cinic in Kapalong, Dave of a two-column General Journal, record the comsleted trans month of its operation using the given chart of accounts: Guar of Accounts Assets Owner's equity cash en Hand 1 alegre, Capital ‘Accounts Recehvable 1 alegre, Drawing Unused Medical Susptes ae Forniture & Fitures, Medical Fees incom ‘Medical Equipment Seat abilities Salaries Expense Accounts Payable Tanes and Licenses Notes Payable “Transactions: Sept. 1 - Or. Alegre invested cash amounting to P950,000 and a clinic urns? worth 7280,000. : 2 = Bought medical equipment on account from Manila Meo? Exwipment Supply Company amounting toP750,000, paying P2000 aedissueda note for the balance. 2 = Bought medical mopiies for each P2000, patents acces of Sect. 7, ARLE mesical ggpiies on ASST FET VERS, FLT. sca fggs oae Se Tas WEES ee pence Gromeet TA = Paid the folowing ewmerses and Licenses, P20,000; Soares of Atendarss, ME.CTE land Upines Expense, ALNDtt sae sete IMs. Floita Acero is engaged in a Rent-A-Car busi Tagbilaran City. Het investment consisted of the f Jourmalizing Service Concern Transactions 2 units Toyota Van ~ P 2,000,000 Cash which he deposited with RCBC, P50,000 chart of Accounts Assets ‘Owner's Equity cash in Bank F.acero, ‘Accounts Receivable F. Acero, Drawing Tires and Tubes Inventory Income Prepaid Insurance Rental Revenue Transportation Equipment Expenses ties Gasoline and Oil Accounts Payable Taxes and Licenses Unearned Rental Revenue Commission Expense Repairs and Maintenance Transactions: May 1 Bought gasoline and oil for the 2 units Toyota Van, P3,500. 132 2 = Rendered transportation service to various tourists who roamed around te 3. 15 city to watch the Sandugo Festival, P20,000, Paid business permits and licenses including that of the Land Transportatie ofice,P15,000. + Rental revenue for the week from tourists for visiting Panglao Beach Reso Loboc River and Chocolate Hills, 2: = Received 2 Bill from Petron Ser ‘account, P15,000, + Paid in advance car insurance (on damaged and se Center for gasoline withdrawn ot ty) 7.30 ~ Boueht spare tre on account from Tegbitaran Dura-Trac, P8500. + Rental revenue forthe week: ‘cash, 25,000 (On account, 10,000 + Payment ofthe Petron Service Center bil, P15,000, Paid drivers’ commission for the week, P7,000. | | | | | _) —- Pi + Paid the account with C + Collected in f = Received cash of P3,000 from Cebu Emo —— __ check-up of Toyota Van and replacement of exploded tire and repair of id rirror, P3,500. received 2 bill from Petron Service Center for gasoline withdrawn on __ peceived cash of P15,000 from Cebu Lions Cub for services that has not yet been rendered. mental revenue for the week: cash, (On account, P15,000 Paid driver's commission, P7,000. sted the customer's account of May 14, 10,000. payment of account with Petron Service Center, P12,000. paid the account of May 10 with Tagbilaran Dure-Trac in the amount of 8,500. Received P2,800 as payment for a special trip to Baclayon Church « Paid gasoline and ol for cash, P1,000. .. Refunded the amount of P25,000 to Cebu Lions Club re-May 22 transaction “Trip was cancelled. revenue for the week, P27,000 broken down 3s follows: 1? commission, P5,600. = Bought gasoline on aécount from Caltex Philipines 2,000 pines, P00. the customers’ account of May 28 ~ P7,000 and May 22 - Mera yes Union for services that has 0 be rendered yet. = Minor repair of Toyota Van, P2,500 Aendred: Record the above transactions using 29 F 2) column journal including his 133,gemmes 53 Journaling Service Concern Transactions Mr, Edgar Detoya, CPA opened a current account with Development Bank of Philippines and deposited P150,000 to start with his public practice. t CChart of Accounts Assets ‘Owner's Equity Cash in Bank E.Detoya, Capital ‘Accounts Receivable ‘Advances to Employees [Accounts Payable UUnearined Professional Income Loans Payable ‘Taxes and Licenses Transactions: Nov. 3- Deposited P150,000 to the bank and invested office table and comput ‘worth P80,000 inthe business. = Bought various office stationeries and supplies on account, P15,000. system. fee for Philippine institute of Certified Puble ‘5 Received cash of P15,000 for installation and design of accounti = Paid 6,000 convent Accountant. 9 - Paid P2,500 for transportation expense in actient in Davao City 10- Rendered professional service on account, P10,000. + Received cash, P6,000 from Cebu Golden Plaza evcn I Received ch iden Plaza but professional ser 33+ Salary advance given to his st + Paid taxes and business permi ‘to be deducted against payroll, 5,000 «ash, P4500, 4- Paid P1,500 for telephone bills. ee ted in full the account of a client on November 10, P10,000. 17- partal payment of account on Nov. 4, P,000 e- Bought steel cabinets on acount from Cebu Equinment Supp 25,000. 9- Received an electric and water bils for F3,500 and immediately made payment. (Utities Expense) 21 Mr. Betoya made a withdrawal from his bank account of P25,000 for his personal use. 22- aid transportation expense in visting acint in Zamboanga City, P3,000. 24- Sent a brochure toa client in Davao Cty through Abeite2-Go, P2500 25~ Rendered 2 professional service for cash to various clients, P45,000 126- Partial payment of account with Cebu Equipment Supply, P10,000. se Cooperative, P47,000 ‘of P3,000 payable si 28 Received cash P15,000 as rétainer's fee from various cients said salaries to his staff, P18,000 net of P5,000 deduction for salary advance ‘of Nov.13, «Full payment of account with Cebu Equipment Supply, P15,000. 1 service to Cebu Golden Plaza, paying out the ived on Nov. 12, P6,000. + Rendered profes: advanced payment - Full payment of November 4 account, P12,000. « Bile a client for professional services rendered, P35,000. ravel to Manila to attend PICPA avail of promotional 200. = Plane ticket Convention, + Send a PICPA\ «= Received cash from a client for professional service rendre (or official business, P850.00. Hhrough UBC Air Cargo, P1,200. 4, 78,000. ite outin off + Taxi fares claimed by sta Necuired: Prepare ourna entries using she two (2 clue Gene 135 eel