Journalizing Business Transactions

1. Merchandise Transactions
TrinityCompany
Journalize transactionsunderPeriodicandPerpetualInventorySystem
Dec. 1- Soldmerchandise toRosarioSantiagooncredit,termsn/30, F.O.BShippingpoint,P10,500
(costP6, 300)
2- Purchasedmerchandise oncreditfromRockCompany,termsn/30, FOBShippingpoint,
P19, 000.
2- Paidcustom freightP1,450 for freightchargesonmerchandise received.
6- Purchasedstore suppliesoncreditfromRome SupplyHouse,termsn/30,P3, 180.
9- Purchasedmerchandise oncreditfromBTG Company,termsn/30,FOB Shippingpoint,
P18, 000 incudingP1,000 freightchargespaidbyBTG Company.
11- AcceptedfromRosarioSantiagoareturn of merchandise, whichwasreturnedtoinventory,
P1, 500 (cost, P900).
14- ReturnedforcreditP3,000 of merchandise receivedonDec2.
15- ReturnedforcreditP1,000 of store suppliespurchasedonDec6.
16- Soldmerchandise forcash,P5,000 (cost,P3, 000).
22- PaidRock Companyforpurchase of Dec 2 lessreturnonDec 14.
23- Receivedfull PaymentfromRosarioSantiagoforherDec1 purchase,lessreturnonDec 11.