Prepare the Journal entries under the PERIODIC INVENTORY SYSTEM, post

the entries to their corresponding ledgers with proper post referencing, prepare
the trial balance, prepare the complete set of financial statements, and prepare
a post-closing trial balance

01 The business PINEAPPLE DISTRIBUTOR was registered as single proprietorship

with the Department of Trade and Industry, Juan Lo invested P39, 000
02 Bought computer equipment for P10,000 cash
02 Bought merchandise on account from UPTOWN Supply Co. P15, 900, Term, 2/10,
n/30
03 Bought office supplies on cash basis for P700
04 Sold merchandize on account P15,200 FOB Destination, terms 2/10, n/30
05 Paid P200 freight on April 4 sale
06 Received credit memo UPTOWN Supply Co. for merchandise return P300
11 Paid UPTOWN
13 Collected from April 4 customers
14 Bought merchandise on cash basis for P14,400
15 Salaries paid P1,500
16 Borrowed money from RCBC Bank, signed a promissory note for P12,000
17 Received refund from a supplier on cash purchase of April 14, P500
18 Bought merchandise from MESDA, P14,200 FOB Shipping, term, 2/10, n/30
20 Paid freight on April 18 purchase P700
23 Sold merchandise for P16, 400
26 Bought merchandise for cash P12,300
27 Paid MESDA on April 18 purchase, P9,000. No discount allowed on partial
payment
28 J. Lo got cash from the business, P2,008
29 Made refund to cash customer for defective merchandise, P900
30 Sold merchandise on account, P13,700 2/30
30 Paid the following: Advertising P1,000, Utilities P400, Rent P3,500, Salaries
P1,500
30 Inventory April 30, P25,000
Prepare the Journal entries under the PERPETUAL INVENTORY SYSTEM, post
the entries to their corresponding ledgers with proper post referencing, prepare
the trial balance, prepare the complete set of financial statements, and prepare
a post-closing trial balance

01 The business PINEAPPLE DISTRIBUTOR was registered as single proprietorship

with the Department of Trade and Industry, Juan Lopez invested P39, 000
02 Bought computer equipment for P10,000 cash
02 Bought merchandise on account from LOWTOWN Supply Co. P15, 900, Term,
2/10, n/30
03 Bought office supplies on cash basis for P700
04 Sold merchandize on account P15,200 FOB Destination, terms 2/10, n/30 (Cost of
Goods Sold P11,000)
05 Paid P200 freight on April 4 sale
06 Received credit memo LOWTOWN Supply Co. for merchandise return P300
11 Paid LOWTOWN
13 Collected from April 4 customers
14 Bought merchandise on cash basis for P14,400
15 Salaries paid P1,500
16 Borrowed money from RCBC Bank, signed a promissory note for P12,000
17 Received refund from a supplier on cash purchase of April 14, P500
18 Bought merchandize from MESDA, P14,200 FOB Shipping, term, 2/10, n/30
20 Paid freight on April 18 purchase P700
23 Sold merchandise for P16, 400 (Cost of Goods Sold P12,000)
26 Bought merchandise for cash P12,300
27 Paid MESDA on April 18 purchase, P9,000. No discount allowed on partial
payment
28 J. Lopez get cash from the business, P2,008
29 Made refund to cash customer for defective merchandise, P900
30 Sold merchandise on account, P13,700 2/30 (Cost of Goods Sold P9,000) ; Paid
the following: Advertising P1,000, Utilities P400, Rent P3,500, Salaries P1,500