GENERAL JOURNAL

DATE ACCOUNT TITLE/ REF. DEBIT CREDIT

EXPLANATION NO.
09/01/20 Cash 1001 P 39,000
H. Lopez, Capital 3000 P 39,000
To record initial investment for the business.

09/02/20 Equipment 1500 10,000

Cash 1001 10,000
To record purchase of computer
equipment.

Purchases 5100 15,900

Accounts Payable 2000 15,900
To record purchase of merchandise on
account with terms 2/10, n/30.

09/03/20 Supplies 1400 700

Cash 1001 700
To record purchase of office supplies.

09/04/20 Accounts Receivable 1202 15,200

Sales 4100 15,200
To record sales on account with terms 2/10,
n/30.

09/05/20 Freight-Out 5006 200

Cash 1001 200
To record freight costs on September 4 sale.

09/06/20 Accounts Payable 1202 300

Purchase Return and Allowances 5101 300
To record return of merchandise.

09/11/20 Accounts Payable 2000 15,600

Purchase Discount 5102 312
Cash 1001 15,288
To record full payment of September 2
purchase with 2% discount.

09/13/20 Cash 1001 14,896

Sales Discount 4102 P 304
Accounts Receivable 1202 P 15,200
To record cash collected from the
September 4 sale with 2% discount.
DATE ACCOUNT TITLE/ REF. DEBIT CREDIT
EXPLANATION NO.
09/14/20 Purchases 5100 P 14,400
Cash 1001 P 14,400
To record purchase of merchandise.

09/15/20 Salaries Expense 6100 1,500

Cash 1001 1,500
To record payment of salary.

09/16/20 Cash 1001 12,000

Notes Payable 2100 12,000
To record a promissory note signed for
borrowed money from the bank

09/17/20 Cash 1001 500

Purchase Return and Allowances 5101 500
To record refund from September 14
purchase.

09/18/20 Purchases 5100 14,200

Accounts Payable 2000 14,200
To record purchase of merchandise on
credit with terms 2/10, n/30.

09/20/20 Freight-In 5005 700

Cash 1001 700
To record freight costs on September 18
purchase.

09/23/20 Cash 1001 16,400

Sales 4100 16,400
To record cash received from sold
merchandise.

09/26/20 Purchases 5100 12,300

Cash 1001 12,300
To record purchase of merchandise.

09/27/20 Accounts Payable 2000 P 9,000

Cash 1001 P 9,000
To record partial payment on September 18
purchase.
DATE ACCOUNT TITLE/ REF. DEBIT CREDIT
EXPLANATION NO.
09/28/20 H. Lopez, Drawing 3100 P 2,008
Cash 1001 P 2,008
To record owner’s cash withdrawal from the
business.

09/29/20 Sales Returns and Allowances 4101 900

Cash 1001 900
To record return of defective merchandise.

09/30/20 Accounts Receivable 1202 13,700

Sales 4100 13,700
To record sales on account with terms n/30.

Salaries Expense 6100 1,500

Utilities Expense 6200 400
Rent Expense 6300 3,500
Advertising Expense 6400 1,000
Cash 1001 6,400
To record payment of various expenses.

TOTAL P 216,108 P 216,108

Cost of Goods Sold:

Beginning Inventory 0
Purchases 56,800
Ending Inventory 25,000
Cost of Goods Sold P 31,800
GENERAL LEDGER
ACCOUNT TITLE: Cash ACCOUNT NUMBER: 1001
DATE ITEM NO. EXPLANATION DEBIT CREDIT BALANCE
2020
Sept. 1 1 Invested cash for the P 39,000 P 39,000
business
Sept. 2 2 Bought computer P 10,000 29,000
equipment
Sept. 3 3 Bought office supplies 700 28,300
Sept. 5 4 Paid freight costs on 200 28,100
September 4 sale
Sept. 11 5 Paid purchases for 15,288 12,812
September 2 with 2%
discount
Sept. 13 6 Collected payment from 14,896 27,708
the September 4 sale
Sept. 14 7 Bought merchandise 14,400 13,308
Sept. 15 8 Paid salary 1,500 11,808
Sept. 16 9 Borrowed money from 12,000 23,808
bank
Sept. 17 10 Received refund from 500 24,308
September 14 purchase
Sept. 20 11 Paid freight costs on 700 23,608
September 18 purchase
Sept. 23 12 Sold merchandise P 16,400 40,008
Sept. 26 13 Bought merchandise 12,300 27,708
Sept. 27 14 Paid partial payment on 9,000 18,708
September 18 purchase
Sept. 28 15 Withdrew cash from the 2,008 16,700
business
Sept. 29 16 Made refund to customers 900 15,800
for defective merchandise
Sept. 30 17 Paid various expenses P 6,400 P 9,400

GENERAL LEDGER
ACCOUNT TITLE: Accounts Receivable ACCOUNT NUMBER: 1202
DATE ITEM NO. EXPLANATION DEBIT CREDIT BALANCE
2020
Sept. 4 1 Sold merchandise P 15,200 P 15,200
Sept. 13 2 Collected payment from P 15,200 0
the September 4 sale
Sept. 30 3 Sold merchandise P 13,700 P 13,700
GENERAL LEDGER
ACCOUNT TITLE: Supplies ACCOUNT NUMBER: 1400
DATE ITEM NO. EXPLANATION DEBIT CREDIT BALANCE
2020
Sept. 3 1 Bought office supplies P 700 P 700

GENERAL LEDGER
ACCOUNT TITLE: Equipment ACCOUNT NUMBER: 1500
DATE ITEM NO. EXPLANATION DEBIT CREDIT BALANCE
2020
Sept. 2 1 Bought computer P 10,000 P 10,000
equipment

GENERAL LEDGER
ACCOUNT TITLE: Accounts Payable ACCOUNT NUMBER: 2000
DATE ITEM NO. EXPLANATION DEBIT CREDIT BALANCE
2020
Sept. 2 1 Bought merchandise P 15,900 P 15,900
Sept. 6 2 Received credit for P 300 15,600
merchandise returned
Sept. 11 3 Paid purchases for P 15,600 0
September 2 with 2%
discount
Sept. 18 4 Bought merchandise P 14,200 14,200
Sept. 27 5 Paid partial payment on P 9,000 P 5,200
September 18 purchase

GENERAL LEDGER
ACCOUNT TITLE: Notes Payable ACCOUNT NUMBER: 2100
DATE ITEM NO. EXPLANATION DEBIT CREDIT BALANCE
2020
Sept. 16 1 Borrowed money from P 12,000 P 12,000
bank

GENERAL LEDGER
ACCOUNT TITLE: H. Lopez, Capital ACCOUNT NUMBER: 3000
DATE ITEM NO. EXPLANATION DEBIT CREDIT BALANCE
2020
Sept. 1 1 Invested cash for the P 39,000 P 39,000
business
GENERAL LEDGER
ACCOUNT TITLE: H. Lopez, Drawing ACCOUNT NUMBER: 3100
DATE ITEM NO. EXPLANATION DEBIT CREDIT BALANCE
2020
Sept. 28 1 Withdrew cash from the P 2,008 P 2,008
business

GENERAL LEDGER
ACCOUNT TITLE: Sales ACCOUNT NUMBER: 4100
DATE ITEM NO. EXPLANATION DEBIT CREDIT BALANCE
2020
Sept. 4 1 Sold merchandise P 15,200 P 15,200
Sept. 23 2 Sold merchandise 16,400 31,600
Sept. 30 3 Sold merchandise P 13,700 P 45,300

GENERAL LEDGER
ACCOUNT TITLE: ACCOUNT NUMBER: 4101
Sales Returns and Allowances
DATE ITEM NO. EXPLANATION DEBIT CREDIT BALANCE
2020
Sept. 29 1 Made refund to customers P 900 P 900
for defective merchandise

GENERAL LEDGER
ACCOUNT TITLE: Sales Discount ACCOUNT NUMBER: 4102
DATE ITEM NO. EXPLANATION DEBIT CREDIT BALANCE
2020
Sept. 13 1 Collected payment from P 304 P 304
the September 4 sale

GENERAL LEDGER
ACCOUNT TITLE: Purchases ACCOUNT NUMBER: 5100
DATE ITEM NO. EXPLANATION DEBIT CREDIT BALANCE
2020
Sept. 2 1 Bought merchandise P 15,900 P 15,900
Sept. 14 2 Bought merchandise 14,400 30,300
Sept. 18 3 Bought merchandise 14,200 44,500
Sept. 26 4 Bought merchandise P 12,300 P 56,800
GENERAL LEDGER
ACCOUNT TITLE: ACCOUNT NUMBER: 5101
Purchase Return and Allowances
DATE ITEM NO. EXPLANATION DEBIT CREDIT BALANCE
2020
Sept. 6 1 Received credit for P 300 P 300
merchandise returned
Sept. 17 2 Received refund from P 500 P 800
September 14 purchase

GENERAL LEDGER
ACCOUNT TITLE: Purchase Discount ACCOUNT NUMBER: 5102
DATE ITEM NO. EXPLANATION DEBIT CREDIT BALANCE
2020
Sept. 11 1 Paid purchases for P 312 P 312
September 2 with 2%
discount

GENERAL LEDGER
ACCOUNT TITLE: Freight-In ACCOUNT NUMBER: 5005
DATE ITEM NO. EXPLANATION DEBIT CREDIT BALANCE
2020
Sept. 20 1 Paid freight costs on P 700 P 700
September 18 purchase

GENERAL LEDGER
ACCOUNT TITLE: Freight-Out ACCOUNT NUMBER: 5006
DATE ITEM NO. EXPLANATION DEBIT CREDIT BALANCE
2020
Sept. 5 1 Paid freight costs on P 200 P 200
September 4 sale

GENERAL LEDGER
ACCOUNT TITLE: Salaries Expense ACCOUNT NUMBER: 6100
DATE ITEM NO. EXPLANATION DEBIT CREDIT BALANCE
2020
Sept. 15 1 Paid salary P 1,500 P 1,500
Sept. 30 2 Paid various expenses P 1,500 P 3,000
GENERAL LEDGER
ACCOUNT TITLE: Utilities Expense ACCOUNT NUMBER: 6200
DATE ITEM NO. EXPLANATION DEBIT CREDIT BALANCE
2020
Sept. 30 1 Paid various expenses P 400 P 400

GENERAL LEDGER
ACCOUNT TITLE: Rent Expense ACCOUNT NUMBER: 6300
DATE ITEM NO. EXPLANATION DEBIT CREDIT BALANCE
2020
Sept. 30 1 Paid various expenses P 3,500 P 3,500

GENERAL LEDGER
ACCOUNT TITLE: Advertising Expense ACCOUNT NUMBER: 6400
DATE ITEM NO. EXPLANATION DEBIT CREDIT BALANCE
2020
Sept. 30 1 Paid various expenses P 1,000 P 1,000
 LOPEZ MERCHANDISING
TRIAL BALANCE
For the month ended September 30, 2020
ACCOUNT NUMBER ACCOUNT TITLE DEBIT CREDIT
1001 Cash P 9,400
1202 Accounts Receivable 13,700
1400 Supplies 700
1500 Equipment 10,000
2000 Accounts Payable P 5,200
2100 Notes Payable 12,000
3000 H. Lopez, Capital 39,000
3100 H. Lopez, Drawing 2,008
4100 Sales 45,300
4101 Sales Returns and Allowances 900
4102 Sales Discount 304
5100 Purchases 56,800
5101 Purchase Return and 800
Allowances
5102 Purchase Discount 312
5005 Freight-In 700
5006 Freight-Out 200
6100 Salaries Expense 3,000
6200 Utilities Expense 400
6300 Rent Expense 3,500
6400 Advertising Expense 1,000
TOTAL P 102,612 P 102,618