Prepare the JOURNAL ENTRY to record the transactions of DALISAY Tailoring Shop for the month ofJanuary 2017 and POST IT TO THE LEDGER.1Mr. Dalisay made the following investment:i. Cashii. SEWING MachineP80,00020,000Purchased furniture for cash , P10,000.Purchased supplies for cash,P3,000.Paid the January 2017 rent, P2,000.Acquired additional equipment (two sewing machine @ P15,000 each). Terms: P10,000 down,the balance3578On six monthly installment.15 Paid the semi-monthly payroll,P2,000 with the following deductions; SSS Premium Payable,P66.00,Medicare Payable,P12,00, With holding Taxes Payable,P14.00.15 Received cash for services rendered,P15,000.20 Sent a bill to customer for services rendered,P5,000.22 Received a note for a customer for services rendered,P5,000.27 Purchased supplies for cash,P500.31 Paid salaries for two weeks,P2,000. (use same deductions on January 15,2017)31 Withdrew cash for personal use, P500.00.

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Description: Prepare the JOURNAL ENTRY to record the transactions of DALISAY Tailoring Shop for the month ofJanuary 2017 and POST IT TO THE LEDGER.1Mr. Dalisay made the following investment:i. Cashii. SEWING MachineP80,00020,000Purchased furniture for cash , P10

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Prepare the JOURNAL ENTRY to record the transactions of DALISAY Tailoring Shop for the month of January 2017 and POST IT TO THE LEDGER.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 8PA: The following select financial statement information from Candid Photography. Compute the accounts...

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