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Journalizing Transactions

The document outlines journal entries for Mr. Laban Deyro's laundry business and ABC Consultancy Services for specific transactions in January and June 2020. It includes details of cash transactions, service revenues, expenses, and initial capital investments. Each entry specifies the date, accounts involved, and the corresponding debit and credit amounts.

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Jessa Fuentes Rosadiño
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Journalizing Transactions

The document outlines journal entries for Mr. Laban Deyro's laundry business and ABC Consultancy Services for specific transactions in January and June 2020. It includes details of cash transactions, service revenues, expenses, and initial capital investments. Each entry specifies the date, accounts involved, and the corresponding debit and credit amounts.

Uploaded by

Jessa Fuentes Rosadiño
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Jessa F.

Rosadino FABM1
11-Anthurium Mrs. Lilia Villoso

III. What I Have Learned (EVALUATION)


Prepare the general journal entries for the following transactions.

Mr. Laban Deyro Laundry Business Transaction

Date Accounts Title and Explanation Ref Debit Credit


1/2/20 Cash 500,000

Mr. Laban Deryo, Capital 500,000

To record the initial investment of


owner Mr. Laban Deyro

1/4/20 Cash 3,000

Service Revenue 3,000

To record collected cash from


customers

1/5/20 Supplies Expense 10,000

Cash 10,000

To record purchase of supplies

1/7/20 Cash 8,000

Service Revenue 8,000

To record collected cash from


customers

1/9/20 Accounts Receivable 15,000

Service Revenue 15,000

To record services rendered to a


customer on account

1/10/2 Cash 12,000


0

Service Revenue 12,000

To record collected cash from


customers

1/12/2 Equipment Expense 50,000


0

Cash 50,000

To record the purchase washing


machine

1/15/2 Cash 20,000


0

Service Revenue 20,000

To record collected cash from


customers

B. Journalize the transactions of ABC Consultancy Services for the month of


June 2020

ABC Consultancy Services


Date Accounts Title and Explanation Ref Debit Credit
JUNE
2020
3 Cash 880,000
Ms. Mae Garcia, 880,000
Capital
To record the initial
investment of the owner
Ms. Mae Garcia
5 Accounts Receivable 50,000
Service Revenue 50,000
To record services rendered
to a customer on account
8 Office Equipment 100,000
Cash 100,000
To record purchase office
equipment
10 Cash 100,000
Service Revenue 100,000
To record service rendered
to a customer
15 Utilities Expense 980
Accounts Payable 980
To record the payment for
utility expense on account

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