Reference no: EM132964024
Question - Ms. Brooh Hah decided to invest in the salon business and named her salon "The Broohah Luk Salon". The followsalon's transactions for the month of November. Journalize the transactions and post the transactions to the T-accounts.
2020
November 2 Ms. Brooch invested P900,000 in the business.
November 5 Bought beauty equipment from Dis Gracia's Beauty Shop; P120,000 on credit. Terms: 30% down payment and the remaining balance on account.
November 7 Paid one-half of the balance to Dis Gracia's and issued a note for the remainder
November 14 Purchased beauty salon supplies from D'Panots for cash, P3,000
November 16 Sold one-half of the Beauty Salon's supplies to Kay's Beauty Parlor for P1,500 cash.
November 17 Returned of defective supplies to D'Panots, P500. Refund will be issued after 10 days.
November 19 Full settlement of the note with Dis Gracia's Beauty Shop20 Paid beauticians' salaries, P8,800
November 25 Received electric bill from meralco, P3,600
November 27 Received the refund for the defective supplies returned to D'Panots29 Ms. Brooch withdrew P10,000 worth of equipment for personal use.
November 31 Paid the electric bill to Meralco
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