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General Journal Entries for 2019

The general journal records transactions for a business over the month of October 2019. Various accounts are debited and credited for purchases, sales, payments, and returns. Transactions include acquiring inventory on account, selling goods for cash and on account, paying suppliers, receiving cash from customers, offering sales discounts, and allowing returns. The journal provides an overview of the company's activities and financial changes for the period.

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77 views3 pages

General Journal Entries for 2019

The general journal records transactions for a business over the month of October 2019. Various accounts are debited and credited for purchases, sales, payments, and returns. Transactions include acquiring inventory on account, selling goods for cash and on account, paying suppliers, receiving cash from customers, offering sales discounts, and allowing returns. The journal provides an overview of the company's activities and financial changes for the period.

Uploaded by

MA RI AH
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd

General Journal

Date Account Title and Explanation Ref. Debit Credit


10/01/19 Merchandise Inventory ₱ 1,800
Accounts Payable ₱ 1,800
2/10, n/30, FOB Destination

10/03/19 Accounts Receivable 2,000


Sales 2,000
Sales on account
Cost of Goods Sold 1,200
Merchandise Inventory 1,200
Cost of sales

10/09/19 Accounts Payable 1,800


Merchandise Inventory 36
Cash 1,764
#

10/12/19 Cash 1,980


Sales Discount 20
Accounts Receivable 2,000
#

7/17 Accounts Receivable 1,800


Sales 1,800
Sales on account
Cost of Goods Sold 1,080
Merchandise Inventory 1,080
Cost of Sales

10/18/19 Merchandise Inventory 1,950

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Accounts Payable 1,950
#
Merchandise Inventory 125
Cash 125
Paid freight

10/20/19 Accounts Payable 300


Merchandise Inventory 300
#

10/21/19 Cash 1,780


Sales Discount 18
Accounts Receivable 1,800
#

10/22/19 Accounts Receivable 2,250


Sales 2,250
#
Cost of Goods Sold 1,350
Merchandise Inventory 1,350
#

7/30 Accounts Payable 1,600


Cash 1,600
#

10/31/19 Sales Return & Allowances 200


Accounts Receivable 200
#
Merchandise Inventory 120
Cost of Goods Sold 120

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#

3|Page

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