GENERAL JOURNAL

Date Account Titles and Explanation Ref Debit Credit

2020
April 1 Cash 101 2,500,000
Building 104 750,000
Delivery Van 105 450,000
Dinggo, Capital 301 251,200,000
To record owner’s investment of
cash, building and delivery van

April 2 Inventory 103 500,000

Cash 101 500,000
To record owner’s purchase
of inventories using cash

April 5 Accounts receivable 102 25,000

Cash 101 100,000
Sales 401 125,000
To record owner’s sale of
inventories on account and on
cash

April 10 Inventory 103 75,000

Accounts payable 201 75,000
To record owner’s purchase of
inventories on account

Accounts payable 201 10,000

Purchase returns/ allowances 10,000
To record returns of defective
supplies

April 15 Cash 101 18,000

Accounts receivable 102 18,000
To record collection of account
receivable

April 21 Accounts Payable 201 45,000

Cash 101 45,000
To record owner’s payment to
the suppliers

April 24 Dinggo, drawings 302 8, 000

 Cash 101 8,000
To record owner’s withdrawal
for personal use

April 30 Utility Expense 501 5,500

Salaries Expense 502 45,000
Transportation Expense 503 2,000
Cash 101 52,500
To record owner’s payment of
utilities expense, salaries
expense and transportation
expense

CHART OF ACCOUNTS

Number Description Account Type Statement

101 Cash Assets Balance Sheet

102 Accounts receivable Assets Balance Sheet
103 Inventories Assets Balance Sheet
104 Building Assets Balance Sheet
105 Equipment Assets Balance Sheet
201 Accounts payable Liabilities Balance Sheet
301 Dinggo, Capital Owner’s Equity Balance Sheet
302 Dinggo, Drawing Owner’s Equity Balance Sheet
501 Utilities Expense Expenses Income Statement
502 Salaries Expense Expenses Income Statement
503 Transportation Expense Expenses Income Statement
GENERAL LEDGER
NO. 101

CASH
Date Explanation PR Debit Credit Balance
2020
April 1 Beginning Cash J1 2,500,000 2,500,000
Investment
April 2 Purchase of Inventories J1 500,000 2,000,000
April 5 Sales of Inventories J1 100,000 2,100,000
April 15 Collection of J1 18, 000 2,118,000
Receivables
April 21 Payment to supplier J1 45,000 2,073,000
April 24 Dinggo, drawings J2 8,000 2,065,000
April 30 Payment of expenses J2 57,500 2,007,500
BALANCE 2,007,500

NO. 102

ACCOUNTS RECEIVABLE
Date Explanation PR Debit Credit Balance
2020
April 5 Customer’s account J1 25,000 25,000
receivable
April 15 Collection of J1 18,000 7,000
Receivables
BALANCE 7,000

NO.103

INVENTORY
Date Explanation PR Debit Credit Balance
2020
April 2 Purchase of owner’s J1 500,000 500,000
Inventories on cash
April 10 Sale of owner’s J1 75,000 575,000
inventories on account
BALANCE 575,000
 NO. 201

ACCOUNTS PAYABLE
Date Explanation PR Debit Credit Balance
2020
April 10 Purchase of owner’s J1 75,000 75,000
Inventories on account
April 10 Returns of Defective J1 10,000 65,000
Supplies
April 21 Payment to suppliers J1 45,000 20,000
BALANCE 20,000

NO. 301

DINGGO, CAPITAL
Date Explanation PR Debit Credit Balance
2020
April 1 Investment of Cash, J1 251,200,000 251,200,000
Building and Delivery Ban
BALANCE 251,200,000

NO. 302

DINGGO, DRAWINGS
Date Explanation PR Debit Credit Balance
2020
April 24 Withdrawal of owner J1 8,000 8,000
for personal use
BALANCE 8,000

NO. 401

SALES
Date Explanation PR Debit Credit Balance
2020
April 5 Sales of Inventories on J1 125,000 125,000
account and on cash
BALANCE 125,000
 NO. 501

UTILITY EXPENSE
Date Explanation PR Debit Credit Balance
2020
April 30 Payment of utilities expense J2 5,500 5,500
BALANCE 5,500

NO. 502

SALARIES EXPENSE
Date Explanation PR Debit Credit Balance
2020
April 30 Payment of salaries expense J2 45,000 45,000
BALANCE 45,000

NO. 503

TRANSPORTATION EXPENSE
Date Explanation PR Debit Credit Balance
2020
April 30 Payment of transportation expense J2 2,000 2,000
BALANCE 2,000

NO. 520

COST OF GOODS SOLD

Date Explanation PR Debit Credit Balance
2020
April 5 Sales of inventories to J1 125,000 125,000
customer
April 10 Returns of Purchase J1 10,000 135,000
BALANCE 135,000