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Davao Laundry Services Accounting
Davao Laundry Services Accounting
Investment by owner
March 1 – Mr. Severo Santos opens a current account with Allied Banking
Corporation in the amount of P850,000 to start with his laundry shop business under the
trade name Davao Laundry Services.
March 2 – Purchased laundry supplies inventory on account, P90,000 from the
following suppliers:
SM City – Davao P 35,000
Gaisano Mall 25,000
NCCC Mall 30,000
Total Payable P 90,000