Documenti di Didattica
Documenti di Professioni
Documenti di Cultura
2 Purchased merchandise on credit from Diego Publishers, terms 2/10, n/30, FOB
destination, P74,000
Dr Merchandise inventory (MI) P74,000
Cr Accounts payable (AP) P74,000
3 Sold merchandise on credit to Detoya Books Shop, terms 1/10, n/30, FOB shipping
point, P10,000
Dr AR P10,000
Cr Sales P10,000
6 Purchased and received merchandise on credit from Made Easy Bookstore, terms
2/10, n/30, FOB shipping point, P42,000
Dr MI P42,000
Cr AP P42,000
7 Received freight bill from Super Express from shipment received on Mar. 6, P570
Dr MI P570
Cr AP P570
9 Sold merchandise on credit to Recoletos Books, terms 1/10, n/30, FOB destination,
P38,000
Dr Accounts receivable (AR) P38,000
Cr Sales P38,000
10 Purchased merchandise from Digao Publishers, terms 2/10, n/30, FOB shipping
point, P26,500, including freight costs of P500
Dr MI P26,500
Cr AP P26,500
(assuming P500 is inside P26,500, otherwise, use P27,000)
11 Received freight bill from Super express for sale on Mar. 9, P291
Dr Transportation-out (or delivery expenses) P291
Cr AP P291
14 Paid Made Easy Bookstore half the amount owed on Mar. 6 purchase. A discount is
allowed on partial payment.
Dr AP P21,000
Cr Cash P20,580
Cr MI P420
15 Returned faulty merchandise worth P3,000 to Digao Publishers for credit against
purchase of Mar. 10
Dr AP P3,000
Cr MI P3,000
16 Purchase office supplies from Olamit Supplies from P4,780, terms n/10
Dr Office supplies P4,780
Cr AP P4,780
17 Received payment from Recoletos Books for half of the sale of Mar. 9. A discount
is allowed on partial payment
Dr Cash P18,810
Dr Sales discounts P190
Cr AR P19,000
18 Paid Digao Publishers in full for amount owed on purchase of Mar. 10, less
return on Mar. 31
Dr AP P23,500
Cr Cash P23,040
Cr MI P460
2% discount is given on only $23,000; not on freight of $500
19 Sold merchandise to Sir Ed Trading on credit, terms 2/10, n/30, FOB shipping
point, P7,800
Dr AR P7,800
Cr Sales P7,800
20 Returned for credit several items of office supplies purchased on Mar. 16,
P1,280
Dr AP P1,280
Cr Office supplies P1,280
27 Received payment of amount owed by Sir Ed Trading for purchase of Mar.19, less
credits of Mar.22
Dr Cash P5,880
Dr Sales discounts P120
Cr AR P6,000
28 Paid Made Easy Bookstore for the balance on the Mar.6 purchase
Dr AP P21,000
Cr Cash P21,000