Prepare the Journal Entries and Trial Balance: ABC Company is a…

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Question Answered step-by-step Prepare the Journal Entries and Trial Balance: ABC Company is a… Prepare the Journal Entries and Trial Balance:ABC Company is a public relation firm. During the month of August 2021, the company completed the following transactions: 1     Robert Marzan, the owner of the company, transferred “cash from personal bank  account to the account of the business, P1,500,000.3    Purchased service vehicle for P600,000, paying P200,000 cash and giving a note payable for the balance.4    Paid electricity bill, P1.600. 5    Paid annual insurance policies, P12,000.6    Bought computer equipment for cash, P10,0009    Purchased office equipment for cash, P54.00010   Mr. Marzan withdrew cash for personal use. 10.000 . 11    Purchased office supplies on account, P2,500.14   Paid P400 for a tune-up of the service vehicle. . 15   Received cash from a customer for service rendered P135.000 and 35.000 charge sales18   Paid the first installment of the note payable, P3.85024  Donated cash to Philippine National Red Cross P10 00025  Paid August rent for office P15.000 26  Paid the telephone bill for Aug, P2 10028  Received an advance payment from a customer PL50030  Paid salaries: P12,000CHART OF ACCOUNTSA101  CashA102  Accounts ReceivableA103 Allowance for Bad DebtsA104 Notes ReceivableA105 Office SuppliesA106 Prepaid InsuranceA201 Office EquipmentA202 Accumulated Depreciation – Office EquipmentA203 Service VehicleA204 Accumulated Depreciation Service VehicleA301 Accounts PayableA302 Interest PayableA303 Unearned Service IncomeA304 Notes PayableA305 Loans PayableA401 Marzan, CapitalA402 Marzan, DrawingA501 Service IncomeA601 Bad Debts ExpenseA602 Depreciation Office EquipmentA603 Depreciation Service VehicleA604 Donation and ContributionA605 Insurance ExpenseA606 Interest ExpenseA607 Internet and CommunicationA608 Light and Water A609   Rent ExpenseA610 Repairs and MaintenanceA611 Salaries and WagesA612 Supplies Expense  Accounting Business Financial Accounting Share QuestionEmailCopy link Comments (0)