following account code for posting reference. Write your answers on a Jinky Estrada is an experienced event planner. The transactions for December Directions: Record the transactions of Jinky Estrada in the general journal. Use the separate sheet of paper. Account Titles 301 Estrada, Capital 101 Cash Consulting Revenues Salaries Expense 401 102 Accounts Receivable 501 103 Office Furniture Office Equipment 502 Rent Expense 104 201 Accounts Payable 2018 are the following: Dec. Jinky invested P100,000 in cash to start her own business. 3 She paid 5,000 for one month's rent. 4 She bought office furniture for P15,000 in cash. 4 She received a laptop compu worth P54,000. She paid 50% as downpayment for it with a balance due in 30 days. She performed services for P12,000 in cash. 7 She did services for P11,000 on credit. She acquired a fax machine for P8,500; paid P4,000 in cash, balance due in 10 days. 11 She received P5,400 from clients on account. 14 She paid P12,000 for salaries. 15 She settled in full the balance for the fax machine.

College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter10: Accounting For Sales And Cash Receipts
Section: Chapter Questions
Problem 7SEA
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Answer the first pic the second pic is the example 

following account code for posting reference. Write your answers on a
Directions: Record the transactions of Jinky Estrada in the general journal. Use the
Jinky Estrada is an experienced event planner. The transactions for December
separate sheet of paper.
Account Titles
301
Estrada, Capital
101
Cash
Consulting Revenues
Salaries Expense
401
102
Accounts Receivable
501
103
Office Furniture
Office Equipment
502
Rent Expense
104
201
Accounts Payable
2018 are the following:
Dec. 1
Jinky invested P100,000 in cash to start her own business.
3
She paid 5,000 for one month's rent.
4
She bought office furniture for P15,000 in cash.
4
She received a laptop computer worth P54,000. She paid 50% as
downpayment for it with a balance due in 30 days.
She performed services for P12,000 in cash.
7
She did services for P11,000 on credit.
She acquired a fax machine for P8,500; paid P4,000 in cash, balance
due in 10 days.
11
She received P5,400 from clients on account.
14
She paid P12,000 for salaries.
15
She settled in full the balance for the faxX machine.
22
Transcribed Image Text:following account code for posting reference. Write your answers on a Directions: Record the transactions of Jinky Estrada in the general journal. Use the Jinky Estrada is an experienced event planner. The transactions for December separate sheet of paper. Account Titles 301 Estrada, Capital 101 Cash Consulting Revenues Salaries Expense 401 102 Accounts Receivable 501 103 Office Furniture Office Equipment 502 Rent Expense 104 201 Accounts Payable 2018 are the following: Dec. 1 Jinky invested P100,000 in cash to start her own business. 3 She paid 5,000 for one month's rent. 4 She bought office furniture for P15,000 in cash. 4 She received a laptop computer worth P54,000. She paid 50% as downpayment for it with a balance due in 30 days. She performed services for P12,000 in cash. 7 She did services for P11,000 on credit. She acquired a fax machine for P8,500; paid P4,000 in cash, balance due in 10 days. 11 She received P5,400 from clients on account. 14 She paid P12,000 for salaries. 15 She settled in full the balance for the faxX machine. 22
The business paid P1,000 for the weekly salary of an employee.
July 24
July
GENERAL JOURNAL
Page 3
P.R.
Debit
Credit
Da
Date
Account Titles and Explanation
502 P1,000
Ju
Jul-24 Salaries Expense
101
P1,000
Cash
To record payment of salary
Analysis:
P1,000
Salaries Expense
Debit
De
Decrease in Owner's Equity:
P1,000
Cash
Credit
De
Decrease in Asset:
July 27
Mr. Pamilya withdrew P500 from the business.
GENERAL JOURNAL
Page 3
P.R.
Dębit
Credit
Date
Account Titles and Explanation
302
P 500
Jul-27 Pamilya, Drawings
Cash
101
P 500
To record owner's withdrawal
Analysis:
Decrease in Owner's Equity:
Pamilya, Drawings
P500
Debit
Decrease in Asset:
Cash
P500
Сredit
July 28
He collected P2,000 which is the amount billed to a customer.
GENERAL JOURNAL
Page 3
Date
Account Titles and Explanation
P.R.
Debit
Credit
Jul-28 Cash
101 P 2,000
Accounts Receivable
102
P 2,000
To record collection of
customer's account
Analysis:
Increase in asset:
Decrease in asset:
Cash
Debit
P2,000
Accounts Receivable
P2,000
Credit
Transcribed Image Text:The business paid P1,000 for the weekly salary of an employee. July 24 July GENERAL JOURNAL Page 3 P.R. Debit Credit Da Date Account Titles and Explanation 502 P1,000 Ju Jul-24 Salaries Expense 101 P1,000 Cash To record payment of salary Analysis: P1,000 Salaries Expense Debit De Decrease in Owner's Equity: P1,000 Cash Credit De Decrease in Asset: July 27 Mr. Pamilya withdrew P500 from the business. GENERAL JOURNAL Page 3 P.R. Dębit Credit Date Account Titles and Explanation 302 P 500 Jul-27 Pamilya, Drawings Cash 101 P 500 To record owner's withdrawal Analysis: Decrease in Owner's Equity: Pamilya, Drawings P500 Debit Decrease in Asset: Cash P500 Сredit July 28 He collected P2,000 which is the amount billed to a customer. GENERAL JOURNAL Page 3 Date Account Titles and Explanation P.R. Debit Credit Jul-28 Cash 101 P 2,000 Accounts Receivable 102 P 2,000 To record collection of customer's account Analysis: Increase in asset: Decrease in asset: Cash Debit P2,000 Accounts Receivable P2,000 Credit
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