Date Account Title PR Debit Credit
March 1 Cash 800,000
Owner's equity (K Santos, 800,000
Capital)
Invested cash on the
business
March 2 Raw Materials 300,000
Cash 300,000
Purchased raw materials
March 3 Office Equipment 20,000
Cash 20,000
Purchased a computer
used in the office
March 4 Vehicle 150,000
Cash 150,000
Bought a secondhand
vehicle
March 5 Furniture 5,000
Cash 5,000
Purchased shop furniture
March 6 Office Supplies 3,000
Cash 3,000
Purchased office supplies
March 7 Accounts Receivable 20,000
Sales Revenue 20,000
Cost of Goods Sold 10,000
Inventory 10,000
Purchased customized
shoes, and issued a promissory
note
March 8 Rent Expense 5,000
Cash 5,000
For the first month of rent
March 9 Business Permits Expense 3,000
Cash 3,000
Secured a business permit
March 10 Cash 40,000
Sales Revenue 40,000
Cost of Good Sold 20,000
Inventory 20,000
Customer purchased
customized wedding entourage
March 11 Cash 30,000
Sales Revenue 30,000
Cost of Goods Sold 15,000
Inventory 15,000
Sells wedding on
entourage
March 12 Rent Expense 15,000
Cash 15,000
Paid for rent for three
months
March 13 Sales Discounts Allowed 5,000
Accounts Receivable 5,000
Cost of Goods Sold 20,000
Inventory 20,000
Discount of merchandise
sold
March 14 Cash 2,000
Service Revenue 2,000
Customer paid for shoe
repair
March 15 Advertising Expense 1,500
Cash 1,500
Paid for tarpaulin
March 17 Owner's Drawings 15,000
Cash 15,000
K. Santos Withdrawals
March 18 Salary Expense 10,000
Cash 10,000
Paid salary to helper
March 19 Raw Materials 150,000
Accounts Payable 150,000
Purchased additional
raw
March 20 Prepared Insurance 15,000
Cash 15,000
Acquired a one year
insurance
March 21 Inventory 30,000
Accounts Payable 30,000
Cost of Goods Sold 15,000
Inventory 15,000
Purchase of Shoes
March 22 Cash 45,000
Accounts Receivable 45,000
Received from
customer
March 23 Sales Returns and Allowances 20,000
Accounts Receivable 20,000
Customer returned
necklace
March 24 Office Equipment Repair Expense 2,000
Cash 2,000
Paid for the repair
March 25 Cash 5,000
Unearned Revenue 5,000
Customer paid in
advance
March 26 Cash 25,000
Sales Revenue 25,000
Cost of Goods Sold 12,500
Inventory 12,500
For the merchandise
purchased
March 27 Accounts Payable 150,000
Cash 150,000
Paid the merchandise
on account
March 28 Utilities Expense 3,000
Cash 3,000
Paid for electricity
March 29 Cash 100,000
Bank Loan Payable 100,000
Acquired a loan
March 30 Office Equipment 10,000
Notes Payable 10,000
Purchased additional
office equipment
March 31 Salary Expense 10,000
Cash 10,000
Paid for salary of the
helper
!!!!! Here’s the Journal Entry. Sorry for sending it late. We weren’t sure about the “PR” po, so we
left it blank po. Sorry about that, guys!
Journal Entry
- Obligacion
- Gerona
- Ursua
