SPECIAL JOURNALS

P. dela Cruz Merchandising’s transactions for the month of August 2017 were as follows:

August 1 Purchased merchandise from Abe Merchandising , P44,800, Terms 2/10, n/30.
Supplier’s Invoice No. 028.

2 Purchased merchandise from Bustos Store, P26,880, terms n/30. Supplier’s Invoice
No. 147.

3 Purchased goods from Camella Store, P17,920 on account 2% EOM. Supplier’s Invoice
No. 122.

4 Purchased merchandise from Duncan Company, P33,600, terms 2/10, n/30. Supplier’s
Invoice No. 218.

4 Received a credit memo from Camella Store, P2,500 for merchandise returned.

5 Received additional cash investment from P. dela Cruz for P200,000. Official Receipt
No. 026.

6 Paid Rent for the month, P12,000. Check Voucher No. 043 and Check No. 0021.

6 Sold merchandise to Roxas Company, P33,600 terms 2/10, n/30. Sales Invoice No. 031.

8 Sold merchandise to Escudero Co. , P22,400 terms 2/10, n/30. Sales Invoice No. 032.

8 Paid Abe Merchandising for the amount due per Supplier’s Invoice No. 028. Check
Voucher No. 044 and Check No. 0022.

9 Purchased merchandise for cash, P100,000 from Elmar Company.Check Voucher

No. 045 and Check No. 0023.

11 Cash sales for the day P50,000. Official Receipt No. 027.

13 Received P800,000 as a loan from Banco de Oro. Official Receipt No. 028.

14 Received full payment from Escudero Co. for Sales Invoice No. 032. Official Receipt
No. 029.

15 Paid salaries for the first half of the month, P40,000. Check Voucher No. 046 and Check
No. 0024.

17 Sold merchandise to Pimentel Store, P44,800, terms n/30. Sales Invoice No. 033.

19 Issued a credit memo to Pimentel Store , P1,800 for merchandise returned.

25 Sold an old Store Furniture at carrying value of P10,000 for cash. Official Receipt
 No. 030.

26 Cash sales for the day P60,000. Official Receipt No. 031.

28 P. dela Cruz withdraw cash for personal use, P20,000.Check Voucher No. 047 and
Check No. 0025.

29 Sold goods to Paterno Co. P15,680, terms n/30. Sales Invoice No. 034.

31 Paid salaries for the second half of the month, P40,000. Check Voucher No. 048 and
Check No. 0026.

Required: 1. Record the foregoing transactions in the appropriate journal. ( General and special
journals)
2. Post the journal entries in the general and subsidiary ledgers.