Prepare the Journal Entries to the individual T-Account AprilMs. Ann Chavez, the owner of the business, transferred cashfrom personal bank account to the account of the business. P1,000,000.Purchased Plain shirts for cash, P 50,000.Bought Screen Printing Machine for notes payable, P 30,000.Bought Ink for cash, P 25,000.Bought Computer Equipment for notes payable, P 10,000.Paid water & electricity bill, P 3,500.Ms. Ann Chavez withdrew P 4,000 cash for personal use.Purchased Office Supplies for cash, P 2,000.Paid May rent for office, P 15,000.Received cash from a customer for service rendered, P3,400.Received cash from a customer for service rendered, P 4,400.Made payment on notes payable, P 40,000.Received cash from a customer for service rendered, P 6,450.Paid annual insurance policies, P 10,000.Paid salaries, P 12,000.

Journal entries recording is the first step of accounting cycle. Under this, atleast one account is…

Answered: Prepare the Journal Entries to the…

Business

Accounting

Prepare the Journal Entries to the individual T-Account

Personal Finance

13th Edition

ISBN:9781337669214

Author:GARMAN

Publisher:GARMAN

Chapter5: Managing Checking And Savings Accounts

Section: Chapter Questions

Problem 1FPC

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