Journal Entry

Date Particulars Debit Credit

Feb. 1 Cash 113,000.00
Accounts Receivable 113,000.00
2 Accounts Payable 64,000.00
Purchase Discount 1,920.00
Cash 62,080.00
4 Purchases 170,000.00
Accounts Payable 170,000.00
5 Accounts Receivable 270,000.00
Sales 270,000.00
7 Advertising Expense 6,000.00
Cash 6,000.00
7 Cash 250,000.00
Sales 250,000.00
8 Accounts Payable 170,000.00
Purchase Discount 5,100.00
Cash 164,900.00
9 Transportation In 4,000.00
Cash 4,000.00
10 Sales Returns and Allowances 70,000.00
Accounts Receivable 70,000.00
12 Cash 196,000.00
Sales Discount 4,000.00
Accounts Receivable 200,000.00
14 Interest Expense 26,000.00
Cash 26,000.00
15 Salaries Expense 51,000.00
Cash 51,000.00
16 Accounts Receivable 392,000.00
Sales 392,000.00
18 Transportation out 4,000.00
Cash 4,000.00
19 Supplies 21,000.00
Cash 21,000.00
20 Purchases 125,000.00
Accounts Payable 125,000.00
22 Miscellaneous Expense 7,000.00
Cash 7,000.00
23 Cash 384,160.00
Sales Discount 7,840.00
Accounts Receivable 392,000.00
24 Purchases 373,000.00
Accounts Payable 373,000.00
24 Transportation In 9,000.00
Cash 9,000.00
25 Accounts Receivable 420,000.00
 Sales 420,000.00
26 Sales Returns and Allowances 71,000.00
Accounts Receivable 71,000.00
28 Buenaflor, Withdrawals 400,000.00
Cash 400,000.00
28 Accounts Payable 25,000.00
Purchase Returns and Allowances 25,000.00
 GENERAL LEDGER

Cash - 110 Accumulated Depreciation - Equipment - 185

Feb. 1 33,000.00 2 62,080.00 Feb. 1
1 113,000.00 7 6,000.00
7 250,000.00 8 164,900.00
12 196,000.00 9 4,000.00 Accounts Payable
23 384,160.00 14 26,000.00 Feb. 2 64,000.00 1
15 51,000.00 8 170,000.00 4
18 4,000.00 28 25,000.00 20
19 21,000.00 24
22 7,000.00 259,000.00
24 9,000.00
28 400,000.00
976,160.00 754,980.00 Mortgage Payable - 230
221,180.00 Feb. 1

Accounts Receivable - 120

Feb. 1 192,000.00 1 113,000.00 Buenaflor, Capital - 310
5 270,000.00 10 70,000.00 Feb. 1
16 392,000.00 12 200,000.00
25 420,000.00 23 392,000.00
26 71,000.00 Buenaflor, Withdrawals - 320
1,274,000.00 846,000.00 Feb. 28 400,000.00
428,000.00 400,000.00

Merchandise Inventory - 130 Sales - 410

Feb. 1 413,000.00 Feb. 5
413,000.00 7
16
Supplies - 140 25
Feb. 1 51,000.00
19 21,000.00
72,000.00 Sales Returns and Allowances - 420
Feb. 10 70,000.00
Prepaid Insurance - 150 26 71,000.00
Feb. 1 48,000.00 141,000.00
48,000.00
Sales Discount - 430
Land - 160 Feb. 12 4,000.00
Feb. 1 460,000.00 23 7,840.00
460,000.00 11,840.00

Building - 170 Purchases - 510

Feb. 1 1,750,000.00 Feb. 4 170,000.00
1,750,000.00 20 125,000.00
24 373,000.00
Accumulated Depreciation - Building - 175 668,000.00
 Feb. 1 350,000.00
350,000.00 Purchase Returns and Allowances - 520
Feb. 28
Equipment - 180
Feb. 1 2,310,000.00
2,310,000.00
L LEDGER

ation - Equipment - 185 Purchase Discounts - 530

630,000.00 Feb. 2 1,920.00
630,000.00 8 5,100.00
7,020.00
s Payable
108,000.00 Transportation In - 540
170,000.00 Feb. 9 4,000.00
125,000.00 24 9,000.00
373,000.00 13,000.00
776,000.00
517,000.00 Salaries Expense - 610
Feb. 15 51,000.00
Payable - 230 51,000.00
2,600,000.00
2,600,000.00 Transportation Out - 660
Feb. 18 4,000.00
Capital - 310 4,000.00
1,569,000.00
1,569,000.00 Advertising Expense -670
Feb. 7 6,000.00
thdrawals - 320 6,000.00

Interest Expense - 680

14 26,000.00
s - 410 26,000.00
270,000.00
250,000.00 Miscellaneous Expense - 690
392,000.00 Feb. 22 7,000.00
420,000.00 7,000.00
1,332,000.00

d Allowances - 420

a.
ount - 430
b.

c.

ses - 510

d.
nd Allowances - 520
25,000.00
25,000.00
 Unadjusted Trial Balance Adjustments
Debit Credit Debit
Cash 221,180.00
Accounts Receivable 428,000.00
Merchandise Inventory 413,000.00
Supplies 72,000.00
Prepaid Insurance 48,000.00 (b)
Land 460,000.00
Building 1,750,000.00
Accumulated Depreciation - Building 350,000.00 (c )
Equipment 2,310,000.00
Accumulated Depreciation - Equipment 630,000.00 (c )
Accounts Payable 517,000.00
Salaries Payable (a)
Mortgage Payable 2,600,000.00
Buenaflor, Capital 1,569,000.00
Buenaflor, Withdrawals 400,000.00
Income Summary
Sales 1,332,000.00
Sales Returns and Allowances 141,000.00
Sales Discounts 11,840.00
Purchases 668,000.00
Purchases Returns and Allowances 25,000.00
Purchase Discount 7,020.00
Transportation In 13,000.00
Salaries Expense 51,000.00 (a) 51,000.00
Supplies Expense (d) 58,000.00
Insurance Expense (b) 2,000.00
Depreciation Expense - Building (c ) 9,000.00
Depreciation Expense - Equipment (c ) 12,000.00
Transportation Out 4,000.00
Advertising Expense 6,000.00
Interest Expense 26,000.00
Miscellaneous Expense 7,000.00
7,030,020.00 7,030,020.00 132,000.00

Particulars Dr Cr
Salaries Expense 51,000.00
Salaries Payable 51,000.00
Insurance Expense 2,000.00
Prepaid Insurance 2,000.00
Depreciation Expense - Building 9,000.00
Depreciation Expense - Equipment 12,000.00
Accumulated Depreciation - Building 9,000.00
Accumulated Depreciation - Equipment 12,000.00
Supplies Expense 58,000.00
Supplies 58,000.00
Adjustments Adjusted Trial Balance
Credit Debit Credit
221,180.00
428,000.00
413,000.00
58,000.00 14,000.00
2,000.00 46,000.00
460,000.00
1,750,000.00
9,000.00 359,000.00
2,310,000.00
12,000.00 642,000.00
517,000.00
51,000.00 51,000.00
2,600,000.00
1,569,000.00
400,000.00
-
1,332,000.00
141,000.00
11,840.00
668,000.00
25,000.00
7,020.00
13,000.00
102,000.00
58,000.00
2,000.00
9,000.00
12,000.00
4,000.00
6,000.00
26,000.00
7,000.00
132,000.00 7,102,020.00 7,102,020.00
Date Particulars Debit Credit
Mar. 2 Purchases P74,000.00
Accounts Payable P74,000.00
3 Accounts Receivables 10,000.00
Sales 10,000.00
5 Cash 7,000.00
Sales 7,000.00
6 Purchases 42,000.00
Accounts Payable 42,000.00
7 Transportation In 570.00
Accounts Payable 570.00
9 Accounts Receivables 38,000.00
Sales 38,000.00
10 Purchases 26,000.00
Transportation in 500.00
Accounts Payable 26,500.00
11 Transportation Out 291.00
Accounts Payable 291.00
12 Accounts Payable 74,000.00
Purchase Discount 1,480.00
Cash 72,520.00
13 Cash 9,900.00
Sales Discount 100.00
Accounts Receivables 10,000.00
14 Accounts Payable 21,000.00
Purchase Discount 420.00
Cash 20,580.00
15 Accounts Payable 3,000.00
Purchase Returns and Allowances 3,000.00
16 Supplies 4,780.00
Accounts Payable 4,780.00
17 Cash 18,810.00
Sales Discount 190.00
Accounts Receivables 19,000.00
18 Accounts Payable 23,500.00
Purchase Discount 470.00
Cash 23,030.00
19 Accounts Receivables 7,800.00
Sales 7,800.00
20 Accounts Payable 1,280.00
Supplies 1,280.00
22 Sales Returns and Allowances 1,800.00
Accounts Receivables 1,800.00
25 Accounts Payable 3,500.00
Cash 3,500.00
26 Accounts Payable 861.00
Cash 861.00
27 Cash 5,880.00
Sales Discount 120.00
Accounts Receivables 6,000.00
28 Accounts Payable 21,000.00
Cash 21,000.00
31 Cash 9,730.00
Sales 9,730.00