BRAVO TRADING

PERPETUAL
DATE
2022
1

10
12

14

15

16

17

18

19

20

24
25

26

28

29

30
 BRAVO TRADING
PETUAL
PARTICULARS PR

Cash
B. Diaz, Capital

Merchandise Inventory
Accounts Payable
Purchase merchandise on account AZ Suppliers, 2/10, n/30

Merchandise Inventory
Cash
Freight charges

Accounts Receivable
Sales

Freight Out
Cash 101

Cost of Goods Sold 501

Merchandise Inventory 115

Accounts Payable 201

Merchandise Inventory 115

Cash 101
Notes Payable

Equipment 150
Accounts Payable 201
Accounts Payable 201
Merchandise Inventory 115
Cash 101

Cash 101
Sales Discounts 403
AR 105

Merchandise Inventory 115

CASH 101

B. DIAZ, DRAWINGS 302

CASH 101
To record drawings

Cash 101
Merchandise Inventory 115
To record refund from cash purchases

Merchandise Inventory 115

Accounts Payable 201
To record purchases on account from XY Distributor, 2/10, n/30

Merchandise Inventory 115

Cash 101
To record freight charges

Accounts Payable 201

Cash 101
To record 50% payment for equipment

Cash 101
Sales 401
 To record sold merchandise on cash

Freight Out 506

Cash 101
To record freight charges

Cost of Goods Sold

Merchandise Inventory
To record cost of goods sold

Merchandise Inventory 115

Accounts Payable 201
To record merchandise purchase from Optimus Suppliers, 2/10, n/30

Sales Returns and Allowances

Cash

Accounts Payable 201

Merchandise Inventory 115
Cash 101
To record full payment to XY Distributor

Salaries Expense 530

Rent Expense 510
Cash 101
To record payment for Operating Expenses

Accounts Receivable
Sales
To record sale to Quest Ent., 2/10, n/30

Cost of Goods Sold 501

Merchandise Inventory 115
To record cost of goods sold
 DEBIT CREDIT

₱ 58,000 GJ SJ SALES JOURNAL

₱ 58,000 CRJ CASH RECEIPTS JOURNAL

15,500 PJ
15,500

400 CDJ
400

14,300 SJ

200 CDJ

9,000 GJ
9,000

500 gj

15,000 CRJ

12,000 GJ
15,000 CDJ
300
14,700

14,014 CRJ
286
14,300

3,700 CDJ
3,700

5,000 CDJ
5,000

330 CRJ
330

9,500 PJ
9,500

150 CDJ
150

6,000 CDJ
6,000

15,400 CRJ
15,400
 250 CDJ
250

11,000 11,000 GJ

4,800 PJ
4,800

204 CDJ
204

9,500 CDJ
190
9,310

3,500 CDJ
4,000
7,500

12,500 SJ
12,500

7,425 GJ
7,425
SJ SALES JOURNAL SALES TRANSACTIONS ON ACCOUNT
CRJ CASH RECEIPTS JOURNAL
l
 BRAVO TRADING

DATE PARTICULARS PR

1 Cash
B. Diaz, Capital
To record initial investment

4 Cost of Goods Sold

Merchandise Inventory
To record Cost of Goods Sold to Ken Co.,

5 Accounts Payable 201

Merchandise Inventory 115

10 Equipment 150
Accounts Payable 201

24 Cost of Goods Sold 501

Merchandise Inventory 115

30 Cost of Goods Sold 501

Merchandise Inventory 115

ADJUSTING ENTRIES
31 Depreciation expense -Equipment
Accumulated Depreciation - Equipment
To record monthly depreciation of Equipment

31 Supplies Expense
Supplies
To record supplies expense for January
DEBIT CREDIT

58,000
58,000

9,000 Cash 58,000

Cost of Goods Sold 27,425
Equipment 12,000
B. Diaz, Capital
500 Merchandise Inventory
500 Accounts Payable

12,000 150
12,000

11,000 11,000

7,425
7,425

200
200

700
700
58,000

11,500
l
Revenues/Sales Journal
AR Sales
DATE Inv/ OR No Account Debited PR (DR) (CR)
(DR) (CR)
Jan 4 Ken Co, 2/10, n/30 14,300 14,300
30 Quest Ent., 2/10, n/30 12,500 12,500
Total

Accounts Receivable
Cash Receipts Journal cash received in collection

Cash Sales Discounts NP AR

DATE OR NO Inv No Account Credited
(DR) (DR) (CR) (CR)

Cash
Sales Discount
Notes Payable
Accounts Receivable
Merchandise Inventory
Sales
 MI Sales
(CR) (CR)
Cash Disbursement Journal cash payments

MI F-Out AP
DATE Check No Voucher No Account Credited PR
(DR) (DR) (DR)
Jan 2 Freight In 400
2 Supplies
4 Freight Out 200
12
15
16
19
20
24
26
28
29
29

Merchandise Inventory
Freight Out
Accounts Payable
Supplies
B. Diaz, Drawings
Sales Returns and Allowances
Salaries Expense
Rent Expense
Cash
Sundry ccounts Cash
(DR) (CR)
400
1,500 1,500
200
Purchases Journal

MI AP
DATE Inv No Account Credited PR
(DR) (CR)
Jan 2 AZ Suppliers, 2/10, n/30 15,500 15,500
18 XY Distributors, 2/10, n/30 9,500 9,500
25 Optimus Suppliers, 2/10, n/30 4,800 4,800
TOTAL

Merchandise Inventory
Accounts Payable
PR Account Title GENERAL JOURNAL SALES JOURNAL

Debit Credit Debit

101 Cash
105 Accounts Receivable
115 Merchandise Inventory
120 Suppliers
150 Equipment
151 Accumulated Depreciation - Equipment
201 Accounts Payable
202 Notes Payable
301 B. Diaz, Capital
302 B. Diaz, Drawings
401 Sales
402 Sales Returns and Allowances
403 Sales Discounts
501 Cost of Goods Sold
506 Freight Out
510 Rent Expense
520 Depreciation Expense - Equipment
530 Salaries Expense
540 Supplies Expense
TOTAL
NET INCOME
TOTAL
 BRAVO TRADING
WORKSHEET
January 31, 2023

CASH DISBURSEMENT
SALES JOURNAL PURCHASES JOURNAL CASH RECEIPTS JOURNAL
JOURNAL

Credit Debit Credit Debit Credit Debit Credit

 STATEMENT OF
UNADJUSTED TRIAL BALANCE ADJUSTMENTS ADJUSTED TRIAL BALANCE
PERFORMANCE

Debit Credit Debit Credit Debit Credit Debit

SALES

5,435
STATEMENT OF STATEMENT OF FINANCIAL
PERFORMANCE POSITION

Credit Debit Credit

CASH

DRAWINGS