10 Paid the month’s rent, 25,000
RENT EXPENSE 25K
CASH 25K
11 Painted signs for Cagayan Comp.
any on account P170,000
A/R 170K
SERVICE REVENUE
170K
12 Paid P55,000 on account from Oct. 2
A/P 55 K
CASH 55K
16 Withdrew P25,000 for personal use
WITHDRAWAL 25K
CASH 25K
23 Collected P 35,000 from Cagayan Company
CASH 35K
A/R 35K
27 Paid salaries of P57,000 for the month
SALARIES EXP
CASH
30 Paid Bayan Tel P7,500 for communication services for the month
TEL. EXP.
CASH
31 Paid a bill from AdAsia for P5,500 of advertising for the month
ADVERTISING EXP.
CASH
Second Transaction
On Dec. 1 2007, Mateo Roa opened a videotape rental store,
Oro Video, by investing P250,000 cash for his personal
savings account. During the month of December, the
following transactions took place
Dec.1 Acquired supplies on account,P67,000
4 Acquired videotapes costing P235,000 on account
5 Paid P85,000 to creditors
8 Received P78,000 cash from ACA Video rental fees
11 Billed Video City for video rentals, P105,000
16 Paid salaries, P65,000
17 Collected P77,000 from Video City
23 Roa withdrew P47,000 from the business
24 Paid rent for the month, P 41,500
30 Paid utilities bill for the month, P17,500
