Example 2
Example 2
Dr ($) Cr ($)
Sales 250,000
Goods 105,000
Cash 126,800
During May, 20XX of operations of this business, the following transactions occurred.
2. Additional goods acquired on cash, $14,000.
3. Utilities expenses, paid in cash, $2,000.
5. Purchased Tools and jigs, $5,000 cash.
6. Paid office rent of $1.900 cash for the month
7: Sales on credit to HC company $15,000, cost of sale: 13,500.
15. Cash paid to creditors for accounts payable due $25,000.
18. Cash Received from customers in payment of accounts receivable $18,000.
24. Salaries for May, paid in cash, $10,500.
26. Advertising expense of $5,100 on credit.
29. Owner’s drawings during May were $2,500.
Requirement:
i.Recording these above transactions in general journal as this sample.
Sample:
ACCOUNT Dr $ Cr $