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    Special Journals (Purchase) : Exercise 5.7

    Uploaded by

    Claudette Clemente
    This document contains instructions and screenshots for a series of journal entry exercises recording various business transactions for a company, including: 1) Recording accounts payable for expenses such as communications and payroll tax payments 2) Paying accounts payable invoices with cash 3) Recording sales revenue through accounts receivable invoices for services 4) Immediately collecting payment from a walk-in customer 5) Receiving payment on accounts receivable through bank transfer or cash

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd

    Special Journals (Purchase) : Exercise 5.7

    Uploaded by

    Claudette Clemente
    168 views12 pages
    This document contains instructions and screenshots for a series of journal entry exercises recording various business transactions for a company, including: 1) Recording accounts payable for expenses such as communications and payroll tax payments 2) Paying accounts payable invoices with cash 3) Recording sales revenue through accounts receivable invoices for services 4) Immediately collecting payment from a walk-in customer 5) Receiving payment on accounts receivable through bank transfer or cash

    Original Description:

    agadgad

    Original Title

    AIS_LT_2

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    © © All Rights Reserved

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    This document contains instructions and screenshots for a series of journal entry exercises recording various business transactions for a company, including: 1) Recording accounts payable for expenses such as communications and payroll tax payments 2) Paying accounts payable invoices with cash 3) Recording sales revenue through accounts receivable invoices for services 4) Immediately collecting payment from a walk-in customer 5) Receiving payment on accounts receivable through bank transfer or cash

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    168 views12 pages

    Special Journals (Purchase) : Exercise 5.7

    Uploaded by

    Claudette Clemente
    This document contains instructions and screenshots for a series of journal entry exercises recording various business transactions for a company, including: 1) Recording accounts payable for expenses such as communications and payroll tax payments 2) Paying accounts payable invoices with cash 3) Recording sales revenue through accounts receivable invoices for services 4) Immediately collecting payment from a walk-in customer 5) Receiving payment on accounts receivable through bank transfer or cash

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    You are on page 1of 12

    Special Journals (Purchase)

    Exercise 5.7
    On April 10, 20XX, the company received the billing from PLDT worth Php 11,200 (tax inclusive). It is to
    be recorded as Communication Expense on the A/P invoice.

    Screenshot the journal entry created from the A/P invoice.

    Insert the screenshot of your output here:


    Exercise 5.8
    On April 11, 20XX, the company received the billing from Philhealth, worth P 3000, for the employees’
    recent salary.

    Screenshot the journal entry created from the A/P invoice.

    Insert the screenshot of your output here:


    Exercise 5.9
    On April 13, 20XX, the company received the billing from SSS, worth P 5000, for the employees’ recent
    salary.

    Screenshot the journal entry created from the A/P invoice.

    Insert the screenshot of your output here:


    Special Journals (Disbursements)
    Exercise 5.10
    On April 15, 20XX, the invoice from PLDT was paid for by cash (based on Exercise 5.6).

    Screenshot the journal entry created from the outgoing payment.

    Insert the screenshot of your output here:


    Exercise 5.11
    On April 16, 20XX, the invoice from Philhealth was paid for by cash (based on Exercise 5.7).

    Screenshot the journal entry created from the outgoing payment.

    Insert the screenshot of your output here:


    Exercise 5.12
    On April 16, 20XX, the invoice from SSS was paid for by cash (based on Exercise 5.8).

    Screenshot the journal entry created from the outgoing payment.

    Insert the screenshot of your output here:


    Special Journals (Sales)
    Exercise 5.13
    On May 2, 20XX, the company billed Mariah Carey for the services it rendered worth P 50,000 (tax
    exclusive, tax will automatically be computed by the system). It is to be recorded as Sales and Service
    Income in the A/R invoice.

    Screenshot the journal entry created from the A/R invoice.

    Insert the screenshot of your output here:


    Exercise 5.14
    On May 5, 20XX, the company rendered service to a walk-in customer amounted to P 15,000 (tax not
    yet included). The customer immediately paid cash.

    Screenshot the journal entry created from the A/R invoice + Payment.

    Insert the screenshot of your output here:


    Exercise 5.15
    On May 9, 20XX, the company rendered service to Elvis Presley amounted to P 80,000 (tax not yet
    included). It is to be recorded as Sales and Service Income in the A/R invoice.

    Screenshot the journal entry created from the A/R invoice.

    Insert the screenshot of your output here:


    Special Journals (Collection)
    Exercise 5.16
    On May 9, 20XX, Mariah Carey paid her invoice via Bank Transfer to the company’s Metrobank account
    with reference number RQL0965YT.

    Screenshot the journal entry created from the Incoming Payment.

    Insert the screenshot of your output here:


    Exercise 5.17
    On May 10, 20XX, Elvis Presley paid his invoice by cash.

    Screenshot the journal entry created from the Incoming Payment.

    Insert the screenshot of your output here:

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