Categories: Quick Homework

accounting problems

Exercise 8-4 Make entries to record the transactions of Corona Trading for the month of January. Jan. 5 Bought 100 yards of linen elothing material from NY Clothier, Promised to pay in 15 days. Cost is P10,000. Complaint to XY about short measurement. Allowance. Gentex delivered materials for uniform P70.000. 2/10: n/30. Issued a check to XY in full payment of account. 789 Got P500 10 Bought suiting material at P95,000 from Peter & Paul. Pasay Road Promised to pay at end of month 14 Returned some goods to Peter & Paul. Got a P5.000 credit memo 17 Paid in full Peter & Paul. 18 Issued a purchase order to Litex for uniform materials. Litex delivered with invoice 745. Corona promised to pay within 30 days

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