PROBLEM 1
Journalize the following sales transactions and post to the Sales Journal and individual accounts receivable subsidiary ledger. Summarize the Account Receivable Subsidiary Ledger on June 15.
June 2 Sold Merchandise to Lewis on account for P150,000, invoice no. 201.
8 Sold Merchandise to Leggins on account for P300,000, invoice no. 202. 14 Sold Merchandise to Lewins on account for P450,000, invoice no. 203.
PROBLEM 2
Journalize the following disbursement transactions and post to the Purchase Journal and individual accounts payable subsidiary ledger. Summarize the Account Payable Subsidiary Ledger on June 15.
June 1 Purchased merchandise on account from Gents for P350,000 eom.
Purchased supplies on account from NBS for P4,000.
Purchased computer on account from Yutivo for P45,000.
Purchased merchandise on account from Vina for P400,000.
10 Purchased merchandise on account from Xena for P350,000.