The chart of accounts of WEEN Trading is as follows:

100 - Assets 400 Revenue

101 Cash 401 Sales
102 Notes Receivable 402 Sales Returns and Allowances
103 Accounts Receivable 403 Sales Discount
103-A Allowance for Impairment Loss
104 Interest Receivable 500 Cost of Sales
105 Prepaid rent 501 Purchases
106 Prepaid Advertising 502 Freight In
107 Prepaid Insurance 503 Purchase Rets and Allo
108 Supplies Inventory 504 Purchase Discount
109 Merchandise Inventory
115 Vat Input Tax 600 Selling Expenses
121 Delivery Van 601 Sales Salaries Expense
121-A Accu Depreciation - Delivery Van 602 Advertising Expense
122 Furniture & Fixture 603 Freight Out
122-A Accu Depreciation - Furn & Fix 604 Miscell Selling Expense
123 Office Equipment 605 Impairment Loss
123-A Accu Depreciation - Office Equipment
700 Administrative Expense
200 - Liabilities 701 Office Salaries Expense
201 Accounts Payable 702 Rent Expense
202 Notes Payable 703 Insurance Expense
203 Interest Payable 704 Office Supplies Expense
204 Unearned Rental Income 705 Taxes and License Expense
211 Vat Payable 706 Light & Water Expense
251 Loan Payable 707 Depre Expense - Office Equip
261 Vat Output 708 Depre Expense - Furn & Fix

300 - Owners Equity

301 Owners Capital
302 Owners Drawing
303 Income and Expense Summary

RRR WEEN Trading

Month of June 2022. During June, the following transactions occurred:
June 1 The owner invested the following:
Cash 500,000
Merchandise 50,000
1 Paid municipal licenses and permits P1,260.
1 Bought office equipment from Royal Equipment, P48,000 terms n/15.
1 Paid freight on he purchase of equipment P2,000.
1 Paid three months rent in advance P45,000.
1 Bought office supplies from Cunanan Supply P1,250 terms cash.
1 Bought merchandise from Zebra Trading P40,000 term 2/10 n/30 and paid freight
of P1,600.
1 Paid for two moths advertisement in the newspaper P10,000.
2 Cash purchases P22,000 with trade discount of 10%.
3 Cash sales, list price of P86,000 with trade discount of 4%.
5 Bought office tables and chairs from Lucas Furniture P42,650 terms 1/10, n/30.
6 Returned to Lucas Trading defective tables costing P2,650 (see trnx June 5)
7 The owner invested his computer in the business P75,000.
8 Bought merchandise from Zebra Trading P16,000 terms 2/10, n/30 and paid
freight of P800.
10 Sold merchandise to Cruz Enterprise P36,500 terms 10/10, n/30 and paid freight
of P920.
11 Sold merchandise to Andaya Company P12,500 term n/60.
12 Cruz Enterprise returned defective goods P6,500 (See trnx June 10)
15 Paid the following: Sales Salaries P12,000; Office Salaries P18,000.
15 Bought delivery van P850,000 terms 20% down and the balance payable in one
year.
16 Cruz Enterprise made a partial payment of P20,000. (See trnx June 10 & 12)
16 Sold merchandise to Lion Trading with a list price of P25,000 terms 8% TD,
2/10,n/30.
17 Issued a 60-day note to Leopard Trading P8,000 for merchandise BOUGHT.
18 Bought merchandise from Tigers Co P18,000 terms n/60.
19 Sold merchandise to Abenson P34,000 terms 3/5, 2/10, n/30 and paid freight of
P2,200.

19 Bought merchandise from Elephant Trading P16,000 terms 3/15, 1/20, n/40.
20 Cruz Enterprise paid his account in full (See trnx June 10, 12, and 16).
21 Lion Trading made a partial payment of P10,000 (See trnx June 16).
21 Abenson returned merchandise P4,000 (See trnx June 19).
21 Returned to Elephant Trading merchandise worth P2,500 (See trnx June 19).
23 Abenson made a partial payment of P11,000 (See trnx June 19).
25 Sold to Alhambra merchandise P26,000 terms 1/5, n/eom.
26 Received a 30-day 6% note from Litonjua Co for merchandise sold P6,000.
27 Received a cash refund for defective merchandise returned P2,000.
28 Gave a cash refund to a cash customer P1,200 for defective merchandise
returned.
29 Abenson paid his account in full. (See trnx June 19, 21 and 23).
29 Bought merchandise from Abra Trading P20,000 terms 3/5, n/10.
30 The owner withdrew cash for his personal use P12,000.
30 Paid one year insurance P24,000.
30 Paid the following expenses: Sales Salaries P12,000; and Office Salaries
P15,000.
30 Paid the following bills: Meralco bill P11,800; and Water bill P8,700.
30 A tenant paid two months rental in advance P4,000.
30 Cash sales P50,000 with trade discount 8%.
30 Paid the account of Abra Trading in full (See trnx June 29).
g is as follows: The company completed the following transactions in

800 Other Income

801 Interest Income DATE 2022
802 Rental Income
June 1
900 Other Expense
901 Interest Expense

2
 3

10

11

12

15

15
16

16

17

18
ny completed the following transactions in June 2022:
J1
GENERAL JOURNAL
PARTICULARS F DEBIT CREDIT

Cash 101 500,000

Merch. Inventory 109 50,000
Owners Capital 301 550,000
(Starting business)

Taxes & License 705 1,260

Cash 101 1,260
(Paid tax &lLicense)

Office Equipment 123 48,000

Account Payable 201 48,000
(Purchased equipment on acc)

Office Equipment 123 2,000

Cash 101 2,000
(Freight on purchased equip)

Prepaid Rent 105 45,000

Cash 101 45,000
(Advanced three months rent payment)

Office Supplies Expense 704 1,250

Cash 101 1,250
(Cash for purchased office supplies)

Purchases 501 40,000

Freight In 502 1,600
Account Payable 201 40,000
(Merchandise purchased on credit)
Cash 101 1,600
(Paid freight charge)

Prepaid Advertising 10,000

Cash 101 10,000
(Paid advance for advertising)
Purchase 501 19,800
Cash 101 19,800
(Purchase made in cash)
 Cash 101 82,560
Sales Revenue 82,560
(Cash sales)

Furniture & Fxtr 122 42,650

Account Payable 201 42,650
(Purchased furniture)

Account Payable 201 2,650

Furniture & Fxtr 122 2,650
(Defective furniture returned)

Office Equipment 123 75,000

Owners Capital 301 75,000
(Invested computer in business)

Purchases 501 16,000

Freight In 502 800
Account Payable 201 16,000
Purchases 501 800
(Purchased inventory & paid freight)

Account Receivable 103 36,500

Freight Out 603 920
Sales Revenue 401 36,500
Cash 101 920
(Sold inventory & paid freight on sales)

Account Receivable 103 12,500

Sales Revenue 401 12,500
(Sold inventory on account)

Sales Return & Allow 402 6,500

Account Receivable 103 6,500
(Return of defective goods)

Sales Salaries 601 12,000

Office Salaries 701 18,000
Cash 101 30,000
(To record sales expense)

Delivery Van 121 850,000

Cash 101 170,000
Account Payable 201 680,000
(Purchased van on account)
 Cash 101 20,000
Account Receivable 103 20,000
(Partial payment received)

Account Receivable 103 23,000

Sales Revenue 401 23,000
(Sold inventory on account)

Purchases 501 8,000

Notes Payable (60d) 202 8,000
(Merchandise purchased & note issued)

Purchase 501 18,000

Account Payable 201 18,000
(Merchandise purchased on account)
The company completed the following transactions in June 2022:
J1
GENERAL JOURNAL
DATE 2022 PARTICULARS F DEBIT

June 19 Account Receivable 103 34,000

Freight Out 603 2,200
Sales Revenue 401
Cash 101
(Sold inventory on acc & paid freight)

19 Purchases 501 16,000

Account Payable 201
(Merchandise purchased on account)

20 Cash 101 14,850

Sale Discount 403 1,650
Account Receivable 103
(Remaining payment receiveed)

21 Cash 101 12,500

Account Receivable 103
(Partial payment received)

21 Sales Return & Allo 402 4,000

Account Receivable 103
(Merchandise return by Abenson)

21 Account Payable 201 2,500

Purchase Return 503
(Returned defective inventory - Elephant Trading)

23 Cash 101 11,000

Account Receivable 103
(Partial payment received)

25 Account Receivable 103 26,000

Sales Revenue 401
(Sold inventory on account)

26 6% Notes Receivable (30d) 202 6,000

Sales Revenue 401
(Received a note for sales on account)
27 Cash 101 2,000
Purchase Return 503
(Cash received for merchandise returned)

28 Sale Return 402 1,200

Cash 101
(Cash refunded for merchandise returned)

29 Cash 101 18,620

Sale Discount 403 380
Account Receivable 103
(Partial payment received)

29 Purchase 501 20,000

Account Receivable 103
(Merchandise purchased on account)

30 Owner Withdrawal 302 12,000

Cash 101
(Cash wihdrawn for personal use)

30 Prepaid Insurance 107 24,000

Cash 101
(Paid one year insurance in advance)

30 Sale Salaries 601 12,000

Office Salaries 701 15,000
Cash 101
(To record sales expense)

30 Light Expense 706 11,800

Water Expense 706 8,700
Cash 101
(Paid utility expense)

30 Cash 101 4,000

Unearned Revenue 204
(Advance rent payment received)

30 Cash 101 46,000

Sale Revenue 401
(Sold inevntory for cash)

30 Account Payable 201 20,000

Purchase Discount 504
 Cash 101
(Payment made on account)
CREDIT

34,000
2,200

16,000

16,500

12,500

4,000

2,500

11,000

26,000

6,000
 2,000

1,200

19,000

20,000

12,000

24,000

27,000

20,500

4,000

46,000

600
19,400