Presented below are the transactions of Weirdo Beauty Salon for the month of January. 2020 Jan. 5 Received P25,500 from various customers as salon income 7 Purchased salon equipment on account, P7,500 8 Bought salon chairs and reception table from Plums Trading on account, P12,000 10 Returned defective chair to Plums Trading valued at P1,000 11 Made partial payment to Plums Trading P2,500 12 Purchased salon supplies paying P3,000 cash 15 The owner, Ms. Matutina, invested a table worth P1,750 Required: (a) Prepare the journal entries. (b) Prepare the T-Accounts.

Presented below are the transactions of Weirdo Beauty Salon for the month of January. 2020 Jan. 5 Received P25,500 from various customers as salon income 7 Purchased salon equipment on account, P7,500 8 Bought salon chairs and reception table from Plums Trading on account, P12,000 10 Returned defective chair to Plums Trading valued at P1,000 11 Made partial payment to Plums Trading P2,500 12 Purchased salon supplies paying P3,000 cash 15 The owner, Ms. Matutina, invested a table worth P1,750 Required: (a) Prepare the journal entries. (b) Prepare the T-Accounts.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter6: Merchandising Transactions

Section: Chapter Questions

Problem 2PB: Record journal entries for the following transactions of Mason Suppliers. A. Sep. 8: Purchased 50...

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