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OCTOBER 15, 2018 CORRECTING ENTRIES (Round 3) Place all your answers in your Columnar Book. PARTI. The following is the trial balance extracted from the records of the FRANZ Good Corporation as of December 31, 2018 before year-end adjustments f for income determination. DEBIT P1,180 85, 300 30,000 Cash on Hand Cash in Bank Accounts Receivable- MAPZ Co. Accounts Receivable-JOYSKI Trading Accounts Receivable-BESAIl Marketing Allowance for Bad Debts Merchandise Inventory, Jan. 1 Store Equipment Office Equipment 7,000 80,000 450 Accounts Payable SSS and Phil health Premiums Payable Income Taxes Withheld Payable FRANZ, Capital 728,100 t st Sales Returns and Allowances Cost of Sales Light and Water Taxes and Licenses Delivery Expenses Telephone/FAX Expenses 4,000 16,435 2,700 28,0002 1,100 Bank Charges SSS and Phil health Expense Store Rent Expense Interest Income Totals P1,094 665 Upon examination of the accounting records, the following accounting errors were noted: 1. Bank charges of P100 was not taken up. 2. A check of P5,000 collected from JORDZ Industries on December 26, 2018 and was recorded as a collection from customers as of that date was reported by the bank to have no sufficient funds (or an NSF check). 3. Unrecorded cash sales on hand as of December 31, 2018 was P3420. A collection of P10,000 from MAcZm aogsa 4. Trading on December 22 was erroneously credited against the account of MAPZ Co. 5. Ms. FRANZ's Drawing of P6,000 was debited as salaries. 6. Employer's share of SSS and Phil health premiums of P500 for December was still unbooked. 7. The interest of P900 came from a note dated December 1, 2017 collected in 2018. The note was a 90-day, 18% note: face value P20.000. Page 1 of 3

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