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journaal entry 45 LAGUNA COLLE 46 COHRALITES KM CENTRU ACES 47 48 7. Food...

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Accounting

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journaal entry

45 LAGUNA COLLE 46 COHRALITES KM CENTRU ACES 47 48 7. Food costing P8,000 was consumed in making the sales for the first week. 49 50 51 52 53 54 8. Taal Restaurant purchased a two-year fire insurance and liability policy for P48,000, paying cash. 55 56 57 58 59 60 61 62 9. Mr. Co decides to purchase a future building site. The cost is P400,000. He pays P40,000 down and gives a 10-year, 15% mortgage for the balance. 63 64 65 66 67 10. The credit card company sends a P5,820 check in payment for credit card sales during the first week (P6,000). The remaining P180 is the 3% fee the credit card company charges for collection. 68 69 70 71 72 73 74 75 11. Kitchen equipment is purchased on account for P40,000. 76 77 78 79 80 81 12. Taal Restaurant is doing splendidly. The second week's sales are P50,000: P24,000 in cash, P10,000 on open account, and P16,000 in credit card sales. 82 83 84 85 86 87 88 89 13. Food costing P20,000 was consumed in making the second week's sales. 90 91 92 93 94

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