M.

SANTOS
General Journal December 31, 2011 Amounts in Philippine Pesos No. Date 1 12/01/11 Account name Cash M. Santos, capital To record M. Santos initial capital. Ref Debit 250,000 Credit 250,000

2 12/04/11

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 Taxes and licenses Cash To record payment of taxes and licenses Cash Loans Payable To record bank loan received amounted to P100,000 Cash Internet service income To record internet rental income received on cash Accounts receivable Printing service income To record printing services income on customers account 50,000

100,000

3 12/05/11

50,000

4 12/10/11

20,000 20,000

5 12/12/11

100,000 100,000

6 12/24/11

5,000 5,000

7 12/24/11

4,000 4,000

8 12/27/11

Accounts payable 100,000 Cash To record full payment of computer equipment purchased on account Rental expense Cash To record monthly rental expense paid Salaries and wages Cash To record salaries and wages of employees Cash Accounts receivable To record collection of accounts receivable Computer Supplies expense Computer supplies To record used supplies Santos, drawing Cash To record cash drawn by Santos for his personal use Cash Santos, Capital To record additional cash capital invested to the business 5,000

100,000

9 12/27/11

5,000

10 12/29/11

20,000 20,000

11 12/29/11

4,000 4,000

12 12/29/11

3,000 3,000

13 12/29/11

25,000 25,000

14 12/30/11

50,000 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