MARCH 2019
1 Mr. Sam Polanco invested 20,000 cash in a service business, Sampol Ent.
3 Purchased Computers on account worth 25,000
6 Bought supplies in cash 9,000
9 Performed service for a customer on account 12,000
12 Received 30,000 cash loan covered by a promissory note from a local Bank
16 Collected partial payment from customer of March 9 P7,000
20 Owner withderw 3,000 for his personal use
24 Paid one half of the account due to the computers bought on March 3
27 Received 8,500 cash for repair services renedered.
30 Paid salary of assistant 2,000 and the utilities bill for the month 600
cash capital
accounts receivable drawing
supplies service income
Office equipment salaries expense
accounts payable utilities expense
notes payable
SAM POLANCO
MARCH 2019
1 Mr. Sam Polanco invested 20,000 cash in a service business, Sampol Ent.
3 Purchased Computers on account worth 25,000
6 Bought supplies in cash 9,000
9 Performed service for a customer on account 12,000
12 Received 30,000 cash loan covered by a promissory note from a local Bank
16 Collected partial payment from customer of March 9 P7,000
20 Owner withderw 3,000 for his personal use
24 Paid one half of the account due to the computers bought on March 3
27 Received 8,500 cash for repair services renedered.
30 Paid salary of assistant 2,000 and the utilities bill for the month 600
cash capital
accounts receivable drawing
supplies service income
Office equipment salaries expense
accounts payable utilities expense
notes payable
SAM POLANCO
JOURNAL ENTERIES
DATE ACOUNT TITLE AND EXPLANATION F DEBIT CREDIT
2019
MARCH
1 Cash 20,000.00
Capital 20,000.00
Initital investment
12 Cash 30,000.00
Notes Payable 30,000.00
Received bank loan
16 Cash 7,000.00
Accounts Receivable 7,000.00
Partial collection from customer
20 Drawings 3,000.00
Cash 3,000.00
Owners Withdrawal
27 Cash 8,500.00
Service Income 8,500.00
Rendered services for cash
31 Capital 3,000.00
Drawings 3,000.00
To close Drawing account to Capital
CASH ACCT. NO:____ C
BALANCE
DATE REMARKS P/R DEBIT CREDIT DATE
DEBIT CREDIT
1 20,000.00 20,000.00 1
6 9,000.00 11,000.00 31
12 30,000.00 41,000.00 31
16 7,000.00 48,000.00
20 3,000.00 45,000.00 DR
24 12,500.00 32,500.00
DATE
27 8,500.00 41,000.00
30 2,600.00 38,400.00 20
31
ACCOUNTS RECEIVABLE ACCT. NO:____
BALANCE SERV
DATE REMARKS P/R DEBIT CREDIT
DEBIT CREDIT
DATE
9 12,000.00 12,000.00
16 7,000.00 5,000.00 9
27
SUPPLIES ACCT. NO:____ 31
BALANCE
DATE REMARKS P/R DEBIT CREDIT
DEBIT CREDIT SALAR
6 9,000.00 9,000.00
DATE
DATE