M. SANTOS General Journal December 31, 2011 Amounts in Philippine Pesos No. Date 1 12/01/11
2 12/04/11
3 12/05/11
4 12/10/11
5 12/12/11
6 12/24/11
7 12/24/11
8 12/27/11
9 12/27/11
10 12/29/11
11 12/29/11
12 12/29/11
13 12/29/11
14 12/30/11
Account name Cash M. Santos, capital To record M. Santos initial capital.
Ref
Debit 250,000
250,000
Computer equipment 100,000 Accounts payable To record purchase of 5 sets of computer equipment on account worth P100,000 Computer supplies Cash To record purchase of computer supplies on cash worth P50,000
50,000
Taxes and licenses Cash To record payment of taxes and licenses
20,000
Cash Loans Payable To record bank loan received amounted to P100,000
100,000
50,000
20,000
100,000 100,000
Cash Internet service income To record internet rental income received on cash
5,000
Accounts receivable Printing service income To record printing services income on customers account
4,000
5,000
4,000
Accounts payable 100,000 Cash To record full payment of computer equipment purchased on account Rental expense Cash To record monthly rental expense paid
Credit
100,000
5,000 5,000
Salaries and wages Cash To record salaries and wages of employees
20,000
Cash Accounts receivable To record collection of accounts receivable
4,000
Computer Supplies expense Computer supplies To record used supplies
3,000
20,000
4,000
3,000
Santos, drawing Cash To record cash drawn by Santos for his personal use
25,000
Cash Santos, Capital To record additional cash capital invested to the business
50,000
25,000
50,000 736,000
736,000
Sample general journal entries from the transactions given in our article "How to record business transactions in the general journal" http://businesstips.ph/how-to-make-accounting-journal-entries/ http://www.BusinessTips.Ph
