SAN SEBASTIAN COLLEGE RECOLETOS 25. Mr.

Tirso made a cash withdrawal of P1,000 for

Prelim in Accounting personal use.
CHRISTOPHER C. LIM 26. Returned a defective merchandise worth P2,500
and received a cash refund.
Identify which appropriate special journals the 27. Purchased office supplies worth P4,000 on
account.
following transactions should be recorded.
28. Paid office rent for P10,000.
A. SALES JOURNAL, 29. Sold merchandise for P6,000 cash and granted
trade discount of 5%.
B. PURCHASE JOURNAL,
30. Paid the bank loan P30,000.
C. CASH RECEIPT JOURNAL,
D. DISBURSEMENT JOURNAL
E. GENERAL JOURNAL

Tirso Trading is a VAT registered distributor of beauty

products. The business engaged in the following
transactions: All transactions VAT exclusive.

1. Mr. Tirso invested cash of P10,000 and

equipment worth P20,000.
2. Purchased merchandise worth P50,000 for cash
3. Sold merchandise to David’s Salon on account
for P8,960
4. Received check from Hair straightening in
payment on a sale made last march P2,587.
5. Sold merchandise to Jessie Mendez P3,920
Term: COD.
6. Authorized an allowance of 560 on sale made to
David Salon of defective merchandise credit
memo was issued.
7. Sold merchandise for P2,464 to Ricky Reyes.
Terms: 50% down payment balance on account.
8. Various cash sales for the day totaled to P3,696.
9. Purchased office supplies P2,000 cash.
10. Received a 50% partial payment from David
Salon.
11. Mr. Tirso made withdrawal of beauty products
for personal use amounting to P5,000.
12. Received a check from Jessie Mendez as
payment for account due.
13. Paid Meralco for P4,500.
14. Purchased merchandise worth P30,000. Terms
5,000 down payment balance 2/10, n/30.
15. Refund P500 to Jessie Mendez for the defective
goods delivered.
16. Purchased a parcel of land worth P500,000 on
account to be paid after a 2 years.
17. David salon issued a 15-day 12% note for the
overdue account.
18. Sold beauty products to Vicky Belo for P20,000.
Terms 20% down payment balance on account.
19. Mr. Tirso made additional investment of
P20,000.
20. Sold an old equipment to a friend for P10,000
cash.
21. Returned a defective merchandise worth P2,000
and received a debit memo.
22. Applied and was granted a bank loan amounting
to P100,000
23. Purchased merchandise on account worth
P50,000 and paid freight of P1,000.
24. Paid salaries of hair cutters and make up artist
worth P25,000.