JOB SHEET Journalizing Transactions INSTRUCTION: Based on the given chart of accounts and transactions below, prepare the GENERAL JOURNAL and SPECIAL JOURNAL for Betito Retail Store. July The following are transactions of Betito's Retail Store for the month of July. 1 - Betito invested P50,000 in his newly opened merchandising store. OR001 2- Paid municipal taxes, P1,200. CV01 - BD012510 3 - Paid the rent of the space, P3,000. CVO2 - BD012511 4 - Purchased merchandise P5,000.- INV1501 4 - Purchased goods from Divisoria Market P15,000. Terms: 2/10, n/30. - INV2502 5 - Paid transportation cost on the above purchase w/ Divisoria Market, P500. CV03 - BD012512 6 - Sold goods to customers, P5,000.- S/2001 7 - Billed Mrs. Reyes for goods sold, P3,000. S/2002 8- Bought store equipment for cash P5,000 and store supplies P2,000. - CV04 - BD012513 9 - Received refund of P1,000 for goods bought on July 4. CM-01 10 - Received a credit memo from Divisoria Market for goods returned, P1,000. CM-02 12 - Bought merchandise on account P12,000 and signed a promissory note. INV1502 14 - Paid Divisoria Market in full. CV05 - BD012514 15 - Paid salaries of helpers, CV06 - BD012515 Gross Pay - P5,000 SSS Contribution - 250 Witholding Tax - 102 Net Pay P4,648 18 - Sold goods for P4,000 for which you gave 5% trade discount to customer. S/2002 19 - Paid the delivery cost for the goods sold on July 18. P200. CV07 - BD012516 20 - Sold goods, P5,000. Terms: 2/10, n/30. S/2003 20 - Collected the account from Mrs. Reyes. 22 - Gave refund to customer on July 18 for defective goods returned, P500. CM-03 21 - Issued credit memo to customer on July 20 for returned goods, P850. CM-04 25 - Account of July 20 was collected. 28 - Betito got cash from the business P800 for personal use. CV08 - BD012517 29 - Paid the water and electric bill, P1,050. CV09 - BD012518 30 - Paid salaries of the helpers, CV10 - BD012519 Gross Pay- P5,000 Pagibig Contribution - 100 PhilHealth Contribution - 150 Net Pay P4,750 ASSET 101 Cash 103 Accounts Receivable 105 Supplies 112 Equipment LIABILITIES 203 Accounts Payable 205 Notes Payable CHART OF ACCOUNTS INCOME 401 Sales 402 Sales Returns & Allowances 403 Sales Discount EXPENSE 501 Purchases 502 Purchase Returns & Allowarices 503 Purchase Discount 504 Freight In 505 Freight Out 506 Salaries Expense 507 Taxes and Licenses 508 Rent Expense 509 Utilities Expense EQUITY 301 Betito, Capital 302 Betito, Drawings

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