EVA CAMMAYO SUPPLY COMPANY AGNE

Journal Entry
May 2021

DATE ACCOUNT TITLE DEBIT CREDIT DATE

4-May Purchases 162,000 buyer 4-May
Accounts Payable 162,000
5-May Purchases 710,000
Accounts Payable 8,000
Freight In 710,000 5-May
Accounts Payable 8,000
6-May Accounts Payable 8,000 6-May
Cash 8,000 7-May

7-May Accounts Payable 12,000 9-May

Purchases Returns and Allowances 12,000
9-May Accounts Payable 150,000
Purchases Discount 3,000 10-May
Cash 147,000
10-May No Entry 12-May
12-May Accounts Payable 710,000
Purchases Discount 14,200
Cash 695,800 18-May
18-May Purchases 150,000
Accounts Payable 150,000 21-May
21-May Frieght In 3,000 23-May
Cash 3,000
23-May Accounts Payable 150,000
Purchases Discount 3,000
Cash 147,000
 AGNES RAMOS COMPANY
Journal Entry
May 2021

ACCOUNT TITLE DEBIT CREDIT

Accounts Receivable 162,000 seller
Freight Out 2,000
Sales 162,000
Accounts Payable 2,000
Accounts Receivable 710,000
Sales 710,000
No Entry
Sales Returns and Allowances 12,000
Accounts Receivable 12,000
Cash 147,000
Sales Discount 3,000
Accounts Receivable 150,000
Accounts Payable 2,000
Cash 2,000
Cash 695,800
Sales Discount 14,200
Accounts Receivable 710,000
Accounts Receivable 150,000 List Price 250,000
Sales 150,000 Trade Disc 40%
No Entry 100,000
Cash 147,000
Sales Discount 3,000
Accounts Receivable 150,000
 ARMANDO ORDINANZA COMPANY
Journal Entry
June 2021

DATE ACCOUNT TITLE DEBIT CREDIT

2-Jun Purchases 600,000 600
Accounts Payable 600,000 1000
4-Jun Transportation In 8,000 600000
Cash 8,000
5-Jun Purchases 360,000 600
Accounts Payable 360,000 600
6-Jun Transportation In 5,000 360000
Cash 5,000
7-Jun Accounts Payable 90,000 Return Tires
Purchases Returns and Allowance 90,000 Price
11-Jun Accounts Payable 510,000
Purchases Discount 5,100 850
Cash 504,900 600
13-Jun Accounts Receivable 630,000 510000
Sales 630,000 1%
22-Jun Cash 623,700 5100
Sales Discount 6,300
Accounts Receivable 630,000
30-Jun Accounts Payable 360,000
Cash 360,000
Return Tires 150
600
90000

700
900
630000
1%
6300
 OFELIA CONORADO FURNITURE STORE
Journal Entry
Month of April

DATE ACCOUNT TITLE DEBIT CREDIT

3-Apr Purchases 75,000
Accounts Payable 75,000
7-Apr Accounts Receivable 19,200
Sales 19,200
8-Apr Purchases 24,000
Accounts Payable 24,000
9-Apr Accounts Payable 7,500
Purchases Returns and Allowances 7,500
10-Apr Transportation In 860
Cash 860
13-Apr Accounts Payable 67,500
Purchases Discount 1350
Cash 66,150
17-Apr Cash 18,816
Sales Discount 384
Accounts Receivable 19,200
20-Apr Accounts Payable 24,000
Cash 24,000
 1500
50
75000

3,200
6
19200
1,200
20
24000

75,000 19,200
7,500 2%
67,500 384
2% 19,200
1350 18,816
 LEOPOLDO VALDEZ COMPANY
Partial Income Statement
For the Year Ended December 31 2020

Cost of Sales
Merchandise Inventory, 01/01/2020 1,200,000
Purchases 4,300,000
Less: Purchasese Returns and Allowances 129,000
Purchases Discounts 215,000 344,000
Net Purchases 3,956,000
Transportation In 172,000
Net Cost of Purchases 4,128,000
Good Available for Sale 5,328,000
Less: Merchandise Inventory, 12/31/2020 1,900,000
Cost of Sales 3,428,000