SALES JOURNAL SALES JOURNAL
The following transactions took place for Pasco Hardware who
Date Customer
sells on cash and on credit with terms of 2/10, n/30.
Oct-02 Sold goods to Union Store, P5,000 Oct-02 Union Store
Oct-04 Sold goods to Lopez Trading P7,500 Oct-04 Lopez Trading
Oct-05 Sold goods to Chavez Store, P4,500 Oct-05 Chavez Store
Oct-06 Cash sale for the wee, P8,000 Oct-06 Cash Sales
TOTAL
SUBSIDIARY LEDGER
Name: Union Store
Address: Manila City
Terms: 2/10, n/30
Date Explanation
Oct-02 Inv. no. 101
GENERAL LEDGER
ACCOUNTS RECEIVAB
Date Explanation
31-Oct Total of AR for Oct
SALES
Date Explanation
31-Oct Total Sales for Oct
CASH RECEIPTS JOURNAL
Date Received from
Oct-01 Dan Pasco made a cash investment of P50,000 Oct-01 Dan Pasco
Oct-02 Borrowed from PNB P50,000 and issued a 90-day,, 18% note Oct-02 PNB
Oct-06 Cash sales summary for the week is P8,000 Oct-06 Customers
Oct-08 Collected P5,000 from Lopez Trading Oct-08 Lopez Trading
Oct-10 Collected in full from Chavez Store Oct-10 Chavez Store
TOTALS
CASH
Date Explanation
31-Oct Total cash received
PASCO, CAPITAL
Date Explanation
31-Oct Cash Investment
CASH SALES SALES JOURNAL
Date Customer
Recorded twice in CRJ and SJ
Alternative: Record cash sales in CRJ and AR Sales in SJ Oct-02 Union Store
Oct-04 Lopez Trading
Oct-05 Chavez Store
TOTAL
CASH RECEIPTS JOURNAL
Date Received from
Oct-01 Dan Pasco
Oct-02 PNB
Oct-06 Customers
Oct-08 Lopez Trading
Oct-10 Chavez Store
TOTALS
SALES
Date Explanation
31-Oct Total Sales for Oct
31-Oct Total Sales for Oct
SALES WITH A DP, BALANCE ON ACCOUNT
Record in SJ the full amount, then in CRJ for partial payment SALES JOURNAL
Date Customer
On Oct 1, Pasco Hardware sold to Union Store goods worth P5,000.
A down payment of P2,000 was received from Union Store. Oct-01 Union Store Goods
CASH RECEIPTS JOURNAL
Date Received from
Oct-01 Union Store Goods
SUBSIDIARY LEDGER
Name: Union Store
Address: Manila City
Terms: 2/10, n/30
Date Explanation
Oct-01 2/10, n/30
Oct-01 Down payment
SALE OF MERCHANDISE W/ A DP, PARTLY W/ A NOTE AND BALANCE ON ACCOUNT
SJ -> CRJ -> GJ
On Oct 1, Pasco hardware sold goods for P10,000, terms 2,000 DP,
30-day 12% note for P5,000 with the balance 2/10, n/30. 1-Oct Accounts Receivable
Sales
1-Oct Cash
Accounts Receivable
1-Oct Notes Receivable
Accounts Receivable
Date Explanation
Oct-01 2/10, n/30
Oct-01 Down payment
Oct-01 30 day 12% note
SALE OF ASSET OTHER THAN MERCHANDISE
Not recorded in sales journal
If cash -> CRJ
If on account -> GJ
PERPETUAL METHOD SALES JOURNAL
Date Customer
Record COS and Merchandise Inventory
Oct-01 Union Store Goods
COS - 80%
CASH RECEIPTS JOURNAL
Or set up a new journal called DELIVERY JOURNAL
Date Received from
Oct-01 Union Store Goods
SALES PLUS 12% VAT
Additional column for VAT SALES JOURNAL
Date Customer
Credit sale of 44,800 and cash sales 13,440 including a 12% VAT
Oct-01 Credit Sales
CASH RECEIPTS JOURNAL
Date Received from
If paid within the discount period Oct-01 Customers
Oct-31 Credi sale collection
PURCHASES JOURNAL PURCHASES JOURNAL
Date Supplier
5-Oct Bought goods from Mon Trading, P9,000, 2/5, 1/10, n/30 Oct-05 Mon Trading
8-Oct Bought goods from Rex Trading, P5,000, 2K DP, 2/10, n/30 Oct-08 Rex Trading
10-Oct Bought goods from Sphere Trading, P2,500 cash Oct-10 Sphere Trading
TOTALS
SUBSIDIARY LEDGER
Name: Mon Trading
Address: Manila City
Terms: 2/5, 1/10, n/30
Date Explanation
Oct-05 Inv. no. 101
GENERAL LEDGER
ACCOUNTS PAYABLE
Date Explanation
31-Oct Summary of October
PURCHASESS
Date Explanation
31-Oct Summary of October
CASH DISBURSEMENTS JOURNAL CASH DISBURSEMENTS JOURNAL
Date Paid to
8-Oct Paid a down payment of P2,000 to Rex Trading Oct-08 Rex Trading
10-Oct Cash purchases amounted to P2,500 from Sphere Oct-10 Sphere
11-Oct Pasco withdrew P500 cash Oct-11 Pasco
15-Oct Paid the account due to Mon in full Oct-15 Mon Trading
20-Oct Cash refund to Margie Tan amounted to P1,000 Oct-20 Margie Tan
TOTALS
PERPETUAL METHOD PURCHASES JOURNAL
Date Supplier
Mon Trading
Oct-05 Mon Trading
Oct-10 Sphere Trading
CASH DISBURSEMENTS JOURNAL
Date Paid to
Oct-05 Sphere Trading
PURCHASES PLUS 12% VAT
Additional column for VAT PURCHASES JOURNAL
Date Supplier
Mon Trading
Dec-30 Mon Trading
CASH RECEIPTS JOURNAL
Date Paid to
If paid within the discount period
2%
CASH PURCHASES
Recorded twice in CDJ and PJ
Alternative: Record cash purchase in CDJ and AP purchases in PJ
PURCHASES WITH A DP, BALANCE ON ACCOUNT 8-Oct Purchases
Record in PJ the full amount, then in CDJ for partial payment Accounts Payable
8-Oct Purchase P5K, paid a down payment of P2,000 to
Rex Trading 8-Oct Accounts Payable
Cash
PURCHASES OF MERCHANDISE W/ A DP, PARTLY W/ A NOTE AND BALANCE ON ACCOUNT
PJ -> CDJ -> GJ 8-Oct Purchases
8-Oct Purchase P5K, paid a down payment of P2,000 to Accounts Payable
Rex Trading, and issued note for the balance
8-Oct Accounts Payable
Cash
8-Oct Accounts Payable
Notes Payable
PURCHASE OF ASSET OTHER THAN MERCHANDISE
Not recorded in purchases journal
If cash -> CDJ
If on account -> GJ
OTHER NONCASH TRANSACTIONS
GJ
Account Sales
Invoice No. F Cash Sales DR
Receivable DR CR
101 √ 5,000 5,000
102 7,500 7,500
103 4,500 4,500
CR Tapes 8,000 8,000
TOTAL 17,000 8,000 25,000
(102) √ (401)
F DR CR Balance
SJ01 5,000 5,000
ACCOUNTS RECEIVABLE Acct No. 102
F DR CR Balance
SJ01 17,000 17,000
SALES Acct No. 401
F DR CR Balance
SJ01 25,000 25,000
Explanation OR No. Cash DR Sales Disc DR F AR CR Cash Sales CR
Cash Investments - 50,000
Loan proceeds - 50,000
Cash sales CRT 8,000 8,000
Collection 101 5,000 5,000
Collection 102 4,410 90 4,500
TOTALS 117,410 90 9,500 8,000
(101) √
CASH Acct No. 101
F DR CR Balance
CRJ01 117,410 117,410
PASCO, CAPITAL Acct No. 301
F DR CR Balance
SJ01 50,000 50,000
Account Sales
Invoice No. F
Receivable DR CR
101 √ 5,000 5,000
102 7,500 7,500
103 4,500 4,500
TOTAL 17,000 17,000
(102) (401)
Explanation OR No. Cash DR Sales Disc DR F AR CR Sales CR
Cash Investments - 50,000 - - - -
Loan proceeds - 50,000 - - - -
Cash sales CRT 8,000 - - - 8,000
Collection 101 5,000 - - 5,000 -
Collection 102 4,410 90 - 4,500 -
TOTALS 117,410 90 9,500 8,000
(401)
SALES Acct No. 401
F DR CR Balance
SJ01 17,000 17,000
CRJ01 8,000 8,000
Account Sales
Invoice No. F
Receivable DR CR
101 5,000 5,000
Explanation OR No. Cash DR Sales Disc DR F AR CR Sales CR
Down payment 101 2,000 √ 2,000
F DR CR Balance
SJ01 5,000 5,000
CRJ01 2,000 -
10,000 SALES JOURNAL
10,000
2,000 CASH RECEIPTS JOURNAL
2,000
5,000 GENERAL JOURNAL
5,000
F DR CR Balance
SJ01 10,000 10,000
CRJ01 2,000 8,000
GJ01 5,000 3,000
Account Sales COS (DR)/
Invoice No. F
Receivable DR CR MI (CR)
101 5,000 5,000 4,000
COS (DR)/ MI
Explanation OR No. Cash DR F AR CR Sales CR
(CR)
Down payment 101 2,000 √ 2,000 1,600
Account Sales
Invoice No. F VAT CR
Receivable DR CR
101 44,800 40,000 4,800
Sales Discount
Explanation OR No. Cash DR F AR CR Sales CR
DR
Cash Sales 102 13,440 12,000
Cash Sales 103 43,904 800 44,800
Account Cash
Invoice No. F Purchases DR
Payable CR Purchase CR
101 √ 9,000 9,000
503 5,000 5,000
789 2,500 2,500
TOTALS 16,500 14,000 2,500
(404) (201) √
F DR CR Balance
PJ01 9,000 9,000
ACCOUNTS PAYABLE 201
F DR CR Balance
PJ01 14,000 14,000
PURCHASESS 404
F DR CR Balance
SJ01 16,500 16,500
TS JOURNAL
Purchase Cash Purchases
Explanation Ref Cash CR F AP Debit
Discount CR DR
Down payment 1 2,000 2,000
Cash purchases 2 2,500 2,500
Withdrawal 3 500
Payment 4 8,910 90 √ 9,000
Cash Refund 5 1,000
TOTALS 14,910 90 - 11,000 2,500
(101) (503) (201) √
Account Cash
Invoice No. F MI DR
Payable CR Purchase CR
101 √ 9,000 9,000
789 2,500 2,500
TS JOURNAL
Cash Purchase
Explanation Ref Cash CR DR F AP Debit MI DR
Cash purchases 1 2,500 2,500
Cash
Account
Invoice No. F MI DR Input Tax Purchase
Payable CR
CR
101 √ 9,000 1,080 10,080
Purchase
Explanation Ref Cash CR F AP Debit MI DR
Discount CR
1 9,878 180 10,080
5,000 PURCHASES JOURNAL
5,000
2,000 CASH DISBURSEMENTS JOURNAL
2,000
5,000 PURCHASES JOURNAL
5,000
2,000 CASH DISBURSEMENTS JOURNAL
2,000
3,000 GENERAL JOURNAL
3,000
SUNDRY
Account Title F DR CR
Pasco, Capital 301 50,000
Notes Payable 50,000
- 100,000
SUNDRY
Account Title F DR CR
Pasco, Capital 301 50,000
Notes Payable 50,000
- 100,000
SUNDRY
Account Title F DR CR
-
SUNDRY
Account Title F DR CR
-
VAT CR
1,440
- 96
SUNDRY
Account Title F DR CR
Pasco, Drawing √ 500
Sales R&A √ 1,000
1,500 -
SUNDRY
Account Title F DR CR
SUNDRY
Account Title F DR CR
Input VAT 22
MABOLA MERCHANDISING
TRIAL BALANCE
NOVEMBER 30, 2022 DECEMBER TRANSACTIONS:
Account DR CR
Cash 40,500 1 Purchased merchandise from Paras Toy Store, P5,200 T
Accounts Receivable 15,700 30-day 12% note for the balance. (Purchase invoice 675
Merchandise Inventory 25,250 4 Paid freight on the above shipment, P120 to Deliverite
Supplies Inventory 750 5 Bought goods from JP Store Center, P3,000, 2/10, n/30
Furniture & Equipment 27,000 6 Sold goods to San Mateo Store P3,000, 1K DP, balance
Accumulated Depreciation 2,700 (Sales Inv. 235 and OR no. 176)
Notes Payable 15,000 7 Collected in full from Lydia Store
Accounts Payable 10,850 10 Paid Fides Trading P1,850 to apply on account
Withholding Taxes Payable 1,000 12 Cash purchases from Roy Mart P2,500 (Purch Inv. 35)
SS and PH Premiums Payable 420 13 Paid JP Sports Center in full of account
Castro, Capital 66,190 14 Received a credit memo from Del Rosario Bazaar for P2
Castro, Drawings 1,200 15 Paid Salaries P2,000 less P250 withholding tax
Sales 120,800 16 Received a cash refund from Roy Mart P200
Sales Returns and Allowances 2,500 17 Cash sales P5,500 (CRT)
Sales Discounts 1,500 20 Paid Fides Trading in full of account
Purchases 70,000 22 Dan Ramos paid P3,000 to apply on account
Freight In 1,700 25 Sold goods on account to Reyes Mart P2,500
Purchase Returns & Allowances 4,200 26 San Mateo paid P1,500
Purchase Discounts 3,000 29 Paid for rent P2K and utilities P200
Advertising 3,000 30 Paid for salaries P2K less Wtax of P250, SS180, and PH 3
Freight Out 3,960 31 Paid for the note due to Paras
Rent Expense 22,000 Cash sales P4,500
Salaries Expense 4,500 Reyes mart paid in full of account
Utilities Expense 6,600
Rent Income 2,000
226,160 226,160
CUSTOMERS' ACCOUNTS 2/10, n/30 for all customers
Lydia Toy Store Inv No. 205 dated Nov 25 10,700
Dan Ramos Inv No. 225 dated Nov 30 5,000
SUPPLIERS' ACCOUNTS
Fides Trading Inv. No. 448, dated Nov 27 3,850
2/10, 1/15, n/30
Del Rosario Bazar Inv. No. 123, dated Nov 15 7,000
3/EOM, n/60
ANSACTIONS:
Books SALES JOURNAL
Date Customer
merchandise from Paras Toy Store, P5,200 Terms: 5% trade discount PJ, GJ
note for the balance. (Purchase invoice 675) Dec-06 San Mateo Store
on the above shipment, P120 to Deliverite Company (Vouc. 101) CDJ Dec-17 Cash Sales
ds from JP Store Center, P3,000, 2/10, n/30 (Purc. Inv. 963) PJ Dec-25 Reyes Mart
to San Mateo Store P3,000, 1K DP, balance on account SJ, CRJ Dec-31 Cash Sales
235 and OR no. 176) TOTAL
full from Lydia Store CRJ
rading P1,850 to apply on account CDJ
ases from Roy Mart P2,500 (Purch Inv. 35) PJ, CDB CASH RECEIPTS JOURNAL
rts Center in full of account CDJ
Date Received from
credit memo from Del Rosario Bazaar for P200 (CM 17) GJ
s P2,000 less P250 withholding tax CDJ Dec-06 San Mateo Store
cash refund from Roy Mart P200 CRJ Dec-07 Lydia Store
P5,500 (CRT) CRJ, SJ Dec-16 Roy Store
rading in full of account CDJ Dec-17 Cash sales
paid P3,000 to apply on account CRJ Dec-22 Dan Ramos
on account to Reyes Mart P2,500 SJ Dec-26 San Mateo Store
paid P1,500 CRJ Dec-31 Customer
t P2K and utilities P200 CDJ Dec-31 Reyes Mart
aries P2K less Wtax of P250, SS180, and PH 30 CDJ TOTALS
note due to Paras CDJ
SJ, CRJ PURCHASES JOURNAL
Date Supplier
paid in full of account CRJ
Dec-01 Paras Toy Store
Dec-05 JP Store Center
Dec-12 Roy Mart
CASH DISBURSEMENTS JOURNAL
Date Paid to
Dec-04 Deliverite Company
Dec-10 Fides Trading
Dec-12 Roy Mart
Dec-13 JP Sports Center
Dec-15 Employees
Dec-20 Fides Trading
Dec-29
Dec-30 Employees
Dec-31 Paras Toy Store
Dec-31 Paras Toy Store
GENERAL JOURNAL
1-Dec Accounts Payable
Notes Payable
14-Dec Accounts Payable
Purchase R&A
Account
Cash Sales
Invoice No. F Receivable
Sales CR
DR
235 3,000 3,000
CRT 5,500 5,500
236 2,500 2,500
CRT 4,500 4,500
TOTAL 5,500 10,000 15,500
SUNDRY
Explanation OR No. Cash DR Sales Disc DR F AR CR Sales CR
Account Title F
Down payment 176 1,000 1,000
Full collection 177 10,700 10,700
Cash refund 178 200 Purchase R&A
Cash Sales CRT 5,500 5,500
Partial payment 179 3,000 3,000
Partial payment 180 1,500 1,500
Cash sales 181 4,500 4,500
Full payment 182 2,450 50 2,500
TOTALS 28,850 50 18,700 10,000
Purchase Account Cash
Invoice No. F Payable Purchase
DR
CR CR
675 4,940 4,940
963 3,000 3,000
35 2,500 2,500
10,440 7,940 2,500
NTS JOURNAL
Cash SUNDRY
Purchase
Explanation Ref Cash CR F AP Debit Purchase
Discount Account Title F
DR
101 120 Freight In
102 1,850 1,850
Cash purchases 3 2,500 2,500
Full payment 103 2,940 60 3,000
Salary payment 104 1,750 Salaries Expense
Full payment 105 2,000 2,000 Withholding Taxes Paybale
Payroll 106 2,000 Rent
200 Utilities
Salary payment 1,540 Salaries Expense
Withholding Taxes Paybale
SSS Payable
PHIC Payable
Full payment 4,940 Notes Payable
Full payment Interest Expense
19,840 60 - 6,850 2,500 - -
4,940
4,940
200
200
SUNDRY
DR CR
200
- 200
SUNDRY
DR CR
120
2,000
Taxes Paybale 250
2,000
200
2,000
Taxes Paybale 250
180
30
4,940
50
11,310 710
