Chan Lee Photography Studio General Journal

Entry for : June 1- 30, 2021

Date Account Debit Credit

June 1 101 Cash P300 000
301 Chan lee, Capital P300 000

Initial Investment on the business

June 2 511 Rent Expenses #1001 P30 000

101 Cash P30 000

Rent for the month of June

June 5 141 Office Furniture P50 000

202 Accounts Payable #5312 P50 000

Purchased Office Furnitures in

Office Plus, payable in 60 days

June 6 151 Photographic Equipment #1002 P150 000

101 Cash P150 000

Purchased Photographic Equipment

June 7 121 Supplies #1003 P40 000

101 Cash P40 000

Purchased Photography supplies

June 10 514 Utilities Expense #1004 P5 000

Cash P5 000

Office cleaning service

June 12 111 Accounts Receivable P39 000

404 Service Fees P39 000

Performed services to Bright Minds School

Received 30% cash, balance on credit

June 15 121 Supplies P3 000

111 Accounts receivable P3 000

Returned damaged photography supplies

June 18 142 Office Equipment #304 P60 000
101 Cash #1005 P15 000
202 Accounts Payable P45 000

Purchased a computer from Micro center

Payable in 30 days

June 20 141 Office Furniture #1006 P20 000

202 Accounts Payable P20 000

Partial payment for desks and other office

furniture from Office Plus from June 5

June 26 111 Accounts Receivable P70 000

404 Service Fees P70 000

Performed services to ABC Learning School

June 27 513 Telephone Expenses #1007 P2 500

101 Cash P2 500

Monthly phone bill

June 30 111 Accounts Receivable P91 000

404 Service Fees P91 000
514 Utilities Expenses #1008 P17 000
101 Cash P17 000
512 Salaries Expenses #1009 P25 000
101 Cash P25 000

Bright Minds School as full payment for

services.
 Chan Lee Photography Studio General Ledger

Account Name: Cash

Account Number: 101
Date Description Journal # Debit Credit Balance
June 1 Investment 1 P300 000 P0.00 P300 000
June 2 Rent Expenses 1 P0.00 P30 000 P270 000
Photographic
Equipment paid in
June 6 cash 1 P0.00 P150 000 P120 000

Photographic
June 7 supplies paid in cash 1 P0.00 P40 000 P80 000
Office cleaning
June 10 service 1 P0.00 P5 000 P75 000

Purchased a computer
June 18 from Micro center 1 P0.00 P15 000 P60 000
June 27 Monthly phone bill 1 P0.00 P2 500 P 57 500
June 30 Electricity Bill 1 P0.00 P17 000 P40 500
Salaries 1 P0.00 P25 000 P15 500

Account Name: Accounts Receivable

Account Number: 111
Date Description Journal # Debit Credit Balance

Performed services to
June 12 Bright Minds School 1 P39 000 P0.00 P39 000

Returned damaged
June 15 photography supplies 1 P3 000 P0.00 P42 000

Performed services to
June 26 ABC Learning School 1 P70 000 P0.00 P112 000
Bright Minds School as
full payment for
June 30 service 1 P91 000 P0.00 P203 000

Account Name: Supplies

Account Number: 121
Date Description Journal # Debit Credit Balance

Purchased
June 7 Photography supplies 1 P40 000 P0.00 P40 000

Returned damaged
June 15 photography supplies 1 P3 000 P0.00 P43 000
 Account Name: Office Furniture
Account Number: 141
Date Description Journal # Debit Credit Balance
Purchased Office
Furnitures in Office
June 5 Plus 1 P50 000 P0.00 P50 000

Partial payment for

desks and other office
furniture from Office
June 20 Plus from June 5 1 P20 000 P0.00 P70 000

Account Name: Office Equipment

Account Number: 142
Date Description Journal # Debit Credit Balance
June 5 Office Equipment 1 P60 000 P0.00 P60 000

Account Name: Photographic Equipment

Account Number: 151
Date Description Journal # Debit Credit Balance
Photographic
June 6 Equipment 1 P150 000 P0.00 P150 000

Account Name: Accounts Payable

Account Number: 202
Date Description Journal # Debit Credit Balance
Purchased Office
Furnitures in Office
June 5 Plus 1 P0.00 P50 000 P50 000
Purchased a
computer from
June 18 Micro center 1 P0.00 P45 000 P95 000
Partial payment for
desks and other
June 20 office 1 P0.00 P20 000 P115 000

Account Name: Chan Lee, Capital

Account Number: 404
Date Description Journal # Debit Credit Balance
June 1 Initial Investment on the business
1 P0.00 P300 000 P300 000
 Account Name: Services Fees
Account Number: 202
Date Description Journal # Debit Credit Balance

Performed services to
June 12 Bright Minds School 1 P0.00 P39 000 P39 000

Performed services to
June 26 ABC Learning School 1 P0.00 P70 000 P109 000
Bright Minds School as
June 30 full payment for 1 P0.00 P91 000 P200 000

Account Name: Rent Expense

Account Number: 511
Date Description Journal # Debit Credit Balance
June 2 Rent for the month of June 1 P30 000 P0.00 P30 000

Account Name: Salaries Expense

Account Number: 512
Date Description Journal # Debit Credit Balance
June 30 Salaries 1 P25 000 P0.00 P25 000

Account Name: Telephone Expense

Account Number: 513
Date Description Journal # Debit Credit Balance
June 27 Telephone Bill 1 P2 500 P0.00 P2 500

Account Name: Utilities Expense

Account Number: 514
Date Description Journal # Debit Credit Balance

June 10 Office cleaning service 1 P5 000 P0.00 P5 000

June 30 Electric Bill 1 P17 000 P0.00 P22 000
 Chan Lee Photography Studio Trial Balance

Ledger Name Debit Balance Credit Balance

101 Cash 300000 284500
111 Accounts Receivable 203000
121 Supplies 43000
141 Office Furniture 70000
142 Office Equipment 60000
151 Photographic Equipment 150000
202 Accounts Payable 115000
301 Chan Lee, Capital 300000
302 Chan Lee, Drawing
404 Service Fees 200000
511 Rent Expense 30000
512 Salaries Expense 25000
513 Telephone Expense 2500
514 Utilities Expense 22000
531 Miscellaneous Expense
Total 905500 899500