PROBLEM

Jane Vivar started a delivery service, Jay Deliveries, on July 1, 2018. The following transactions
the following occurred duribg the month of July.

Jul-01 She invested P100,000 cash.

2 Purchased a used van for deliveries for P120,000 by paying P20,000 cash and
signed a two-year notes payable for the remaining balance.
3 Paid P15,000 for office rent for the month.
5 Delivery services amounted to P44,000, half on account.
9 Cash of P2,000 withdrawn by Jane.
12 Purchased supplies for P1,500 on account.
15 Received cash of P12,500 for services provided on July 5.
17 Purchased gasoline for P7,500 on account.
20 Received P15,000 from customers of which P5,000 was for past accounts.
23 Made a cash payment of P25,000 on notes payable.
26 Received bills for utilities P5,000 but paid only P2,500.
29 Paid gasoline purchased on account on July 17.
30 Paid P30,000 for employee salaries.

REQUIRED:

Record the above transactions in a general journal. (A two-column journal is provided below)

(Use the following chart of accounts):

101 – Cash 101

102 – Accounts receivable 102
103 – Supplies 103
201 – Van 201
301 – Accounts payable 301
302 – Notes payable 302
401- Vivar, capital 401
402 – Vivar, drawing 402
501- Delivery income 501
601 – Rent expense 601
602 – Supplies expense 602
603 – Gas and oil expense 603
604 – Utilities expense 604
605 – Salaries expense 605
100,000
120,000 20,000 100,000

15,000
44,000 22,000 22,000
2,000
1,500
12,500
7,500
15,000 5,000 10,000
25,000
5,000 2,500 2,500
7,500
30,000
GENERAL JOURNAL
PAGE 1

DATE PARTICULARS F DEBIT CREDIT

2018
July 1 Cash 101 100,000.00
Vivar, capital 401 100,000.00
Investment of Jane Vivar
#
2 Van 201 120,000.00
Cash 101 20,000.00
Notes payable 302 100,000.00
Bought Van
#
3 Rent expense 601 15,000.00
Cash 101 15,000.00
Paid rent
#
5 Accounts receivable 102 22,000.00
Cash 101 22,000.00
Delivery income 501 44,000.00
Delievery income earned
#
9 Vivar, drawing 402 2,000.00
Cash 101 2,000.00
Withdrawal for personal use
#
12 Supplies 103 1,500.00
Accounts payable 301 1,500.00
Bought supplies on account
#
15 Cash 101 12,500.00
Accounts receivable 102 12,500.00
Collection on account.
#
17 Gas and oil expense 603 7,500.00
Accounts payable 301 7,500.00
Bought gasoline on account
#
20 Cash 101 15,000.00
 Accounts receivable 102 5,000.00
Delivery income 501 10,000.00
Collections
#
23 Notes payable 302 25,000.00
Cash 101 25,000.00
partial payment on note
#
26 Utilities expense 604 5,000.00
Cash 101 2,500.00
Accounts payable 301 2,500.00
Utilities received
#
29 Accounts payable 301 7,500.00
Cash 101 7,500.00
Payment on account
#
30 Salaries expense 605 30,000.00
Cash 101 30,000.00
Payment of salaries
#
GENERAL LEDGER

CASH ACCOUNT NO.

DATE PARTICULARS F DEBIT DATE PARTICULARS

2018 2018
July 1 Investment J1 100,000.00 July 2 Bought Van
5 Delivery income J1 22,000.00 3 Paid rent
15 Collection J1 12,500.00 9 personal use
20 Collections J1 15,000.00 23 Partial on note
26 Utilities paid
29 Payment on acct.
30 Payment salaries

Bal. 47,500.00 149,500.00

ACCOUNTS RECEIVABLE ACCOUNT NO.

DATE PARTICULARS F DEBIT DATE PARTICULARS

2018 2018
July 5 Deliver income J1 22,000.00 July 15 Collection
20 Collection

Bal. 4,500.00 22,000.00

SUPPLIES ACCOUNT NO.

DATE PARTICULARS F DEBIT DATE PARTICULARS

2018
July 12 Bought supplies J1 1,500.00
 1,500.00 1,500.00

VAN ACCOUNT NO.

DATE PARTICULARS F DEBIT DATE PARTICULARS

2018
July 2 Bought van J1 120,000.00

Bal. 120,000.00 120,000.00

ACCOUNTS PAYABLE ACCOUNT NO.

DATE PARTICULARS F DEBIT DATE PARTICULARS

2018 2018
July 29 Payment on acct J1 7,500.00 July 12 Supplies
17 Gasoline
26 Utilities

7,500.00 Bala. 4,000.00

NOTES PAYABLE ACCOUNT NO.

DATE PARTICULARS F DEBIT DATE PARTICULARS

2018 2018
July 23 Partial payment J1 25,000.00 July 2 Bought Van

25,000.00 Bal. 75,000.00

VIVAR, CAPITAL ACCOUNT NO.

DATE PARTICULARS F DEBIT DATE PARTICULARS

 2018
July 1 Investment

Bal. 100,000.00

VIVAR, DRAWING ACCOUNT NO.

DATE PARTICULARS F DEBIT DATE PARTICULARS

2018
July 9 Personal J1 2,000.00

Bal. 2,000.00 2,000.00

DELIVERY INCOME ACCOUNT NO.

DATE PARTICULARS F DEBIT DATE PARTICULARS

2018
July 5 income earned
20 Collections

Bal. 54,000.00

RENT EXPENSE ACCOUNT NO.

DATE PARTICULARS F DEBIT DATE PARTICULARS

2018
July 3 Paid rent J1 15,000.00

Bal. 15,000.00 15,000.00

 SUPPLIES EXPENSE ACCOUNT NO.

DATE PARTICULARS F DEBIT DATE PARTICULARS

GAS AND OIL EXPENSE ACCOUNT NO.

DATE PARTICULARS F DEBIT DATE PARTICULARS

2018
July 17 Bought gasoline J1 7,500.00

Bal. 7,500.00 7,500.00

UTILITIES EXPENSE ACCOUNT NO.

DATE PARTICULARS F DEBIT DATE PARTICULARS

2018
July 26 Paid and on acount J1 5,000.00

Bal. 5,000.00 5,000.00

SALARIES EXPENSE ACCOUNT NO.

DATE PARTICULARS F DEBIT DATE PARTICULARS

2018
July 30 Payment J1 30,000.00

Bal. 30,000.00 30,000.00

101

F CREDIT

J1 20,000.00
J1 15,000.00
J1 2,000.00
J1 25,000.00
J1 2,500.00
J1 7,500.00
J1 30,000.00

102,000.00

102

F CREDIT

J1 12,500.00
J1 5,000.00

17,500.00

103

F CREDIT
 -

201

F CREDIT

301

F CREDIT

J1 1,500.00
J1 7,500.00
J1 2,500.00

11,500.00

302

F CREDIT

J1 100,000.00

100,000.00

401

F CREDIT
J1 100,000.00

100,000.00

402

F CREDIT

501

F CREDIT

J1 44,000.00
J1 10,000.00

54,000.00

601

F CREDIT
602

F CREDIT

603

F CREDIT

604

F CREDIT

605

F CREDIT
 JAY DELIVERIES
TRIAL BALANCE
July 31, 2018

DEBIT

Cash 47,500.00
Accounts receivable 4,500.00
Supplies 1,500.00
Van 120,000.00
Accounts payable
Notes payable
Vivar, capital
Vivar, drawing 2,000.00
Delivery income
Rent expense 15,000.00
Gas and oil expense 7,500.00
Utilities expense 5,000.00
Salaries expense 30,000.00
233,000.00
CREDIT

4,000.00
75,000.00
100,000.00

54,000.00

233,000.00