GENERAL JOURNAL

Date Account Title and Explanation Ref Debit Credit

2016
Jan-01 Cash 101 250,000.00
Digao, Capital 301 250,000.00
Owner's investment of cash in the business

Jan-01 Inventory 121 130,000.00

Accounts Payable 201 130,000.00
Purchase of siomai from supplier on account

Jan-02 Cash 101 50,000.00

Sales 400 50,000.00
Sale of siomai to customer through cash

Cost of Goods Sold 500 25,000.00

Inventory 121 25,000.00
Sale of siomai to customer

Jan-03 Accounts Receivable 111 30,000.00

Sales 400 30,000.00
Sale of siomai to customer on account

Cost of Goods Sold 500 15,000.00

Inventory 121 15,000.00
Sale of siomai to customer

Jan-10 Cash 101 10,000.00

Accounts Receivable 111 10,000.00
Collection of customer's accounts receivable

Jan-12 Accounts Payable 201 45,000.00

Cash 101 45,000.00
Payment of accounts payable to supplier

Jan-15 Rent Expense 505 15,000.00

Cash 101 15,000.00
Payment of rental for the month

Jan-18 Cash 101 35,000.00

Accounts Receivable 111 35,000.00
Sales 500 70,000.00
Sale of siomai to customer on account with
50% downpayment

Cost of Goods Sold 505 35,000.00

Inventory 121 35,000.00
Sale of siomai to customer
Jan-20 Inventory 121 35,500.00
Accounts Payable 201 5,500.00
Cash 101 30,000.00
Purchase of siomai, partly cash, partly on
account

Jan-31 Cash 101 15,000.00

Digao, Capital 301 15,000.00
Owner's investment of additional cash
 CASH NO. 101
Date Explanation Ref Debit Credit Balance
2016

ACCOUNTS RECEIVABLE NO. 111

Date Explanation Ref Debit Credit Balance
2016

INVENTORY NO. 121

Date Explanation Ref Debit Credit Balance
2016

ACCOUNTS PAYABLE NO. 201

Date Explanation Ref Debit Credit Balance
2016

Digao, Capital NO. 301

Date Explanation Ref Debit Credit Balance
2016
 Sales NO. 400
Date Explanation Ref Debit Credit Balance
2016

Cost of Goods Sold NO. 500

Date Explanation Ref Debit Credit Balance
2016

Rent Expense NO. 505

Date Explanation Ref Debit Credit Balance
2016