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  • Rein Hardware Store

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    Mariñas, Romalyn D.
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    This document contains journal entries for a company's transactions throughout the month of May. It records debits and credits to accounts for inventory, accounts payable, accounts receivable, sales, cost of goods sold, supplies, and cash. The journal closes with total debits and credits equaling $26,060 for the period.

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    This document contains journal entries for a company's transactions throughout the month of May. It records debits and credits to accounts for inventory, accounts payable, accounts receivable, sales, cost of goods sold, supplies, and cash. The journal closes with total debits and credits equaling $26,060 for the period.

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    © All Rights Reserved
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    17 views2 pages

    Rein Hardware Store

    Uploaded by

    Mariñas, Romalyn D.
    This document contains journal entries for a company's transactions throughout the month of May. It records debits and credits to accounts for inventory, accounts payable, accounts receivable, sales, cost of goods sold, supplies, and cash. The journal closes with total debits and credits equaling $26,060 for the period.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
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    of 2

    Journal Entries

    Date Explanation PR Debit Credit


    2020
    May-01 Inventory 4,200.00
    Accounts Payable 4,200.00

    May-02 Accounts Receivables 2,100.00


    Sales 2,100.00

    May-02 Cost of Goods Sold 1,300.00


    Inventory 1,300.00

    May-05 Accounts Payable 300.00


    Inventory 300.00

    May-09 Cash 2,079.00


    Sales Discounts 21.00
    Accounts Receivables 2,100.00

    May-10 Accounts Payable 3,900.00


    Cash 3,822.00
    Inventory 78.00

    May-11 Supplies 400.00


    Cash 400.00

    May-12 Inventory 1,400.00


    Cash 1,400.00

    May-15 Cash 150.00


    Inventory 150.00

    May-17 Inventory 1,300.00


    Accounts Payble 1,300.00

    May-19 Inventory 130.00


    Cash 130.00

    May-24 Cash 3,200.00


    Sales 3,200.00

    May-24 Cost of Goods Sold 2,000.00


    Inventory 2,000.00
    May-25 Inventory 620.00
    Accounts Payable 620.00

    May-27 Accounts Payable 1,300.00


    Cash 1,274.00
    Inventory 26.00

    May-29 Sales Returns and Allowances 70.00


    Cash 70.00

    May-29 Inventory 30.00


    Cost of Goods Sold 30.00

    May-31 Accounts Receivables 1,000.00


    Sales 1,000.00

    May-31 Cost of Sales 560.00


    Inventory 560.00

    26,060.00 26,060.00

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