?KEEPING LEVEL 2-MERCHANDISING AND ADJU C?SES 7 The following are selected trans

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?KEEPING LEVEL 2-MERCHANDISING AND ADJU C?SES 7 The following are selected transactions and events related to sales of the ARLENE'S TIQUE AND ACCESSORIES for the months of March and April, 2007 3 Cash sales to Little Baguio Stores, P18,000. Accepted returns made by Little Baguio Stores for which a cash refund of P1.50 W 6 Sold on account to Carmela's Fashion Supplies, P22,500; 3/10, 2/15, n/45 9 Sold on account to Pineda's Jewels and Accessories, P16,000; 2/10, 1/15, n/0 10 Accepted returned merchandise by Carmela's Fashion Supplies, P1.500. Sold on account to Mara Crafts, Co. P15,000, 2/10, n/30 12 Accepted returned merchandise from Mara Crafts, co., P800. 13 Sold on account to St. Anne's Trading, P18,000; 2/10, 1/15, n/30. Granted an allowance to Pineda's Jewels and Accessories, P400 16 Collected the account of Carmela's Fashion Supplies 19 Collected the account of Mara Crafts, Co Collected the account of Pineda's Jewel and Accessories. 26 Sold on account to KIREI'S DES?GNS, P? 4,000, 2/10, EOM, t/30 27 Sold on account to H 28 Granted and allowance to KIREI'S DESIGNS, P500. 29 Collected the account of St. Anne's Trading ouse of Jewels, P20,000; 2/10, 1/15, EOM, Apr. 8 Collected the account of KIREI'S DESIGNS 11 Collected the account of House of Jewels Required: 1. Journalize the selected transactions, and events of the ARLENE'S BOUTIQUE AND ACCESSORIES. The chart of accounts of the business provided for the following accounts among others: Cash Accounts Receivable Sales Sales Returms Sales Allowances Sales Discounts 2 Support your entries with computations in

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ans 1 and 2 Accounts Title Dr Cr 3-Mar Cash P18000 Sales P18000 5-Mar Sales return 1500 Cash 1500 6-Mar Accounts receivable 22500 Sales 22500 9-Mar Accounts receivable 16000 Sales 16000 10-Mar Sales return 1500 Accounts receivable 1500 11-Mar Accounts receivable 15000 Sales 15000 12-Mar Sales return 800 Accounts receivable 800 13-Mar Accounts receivable 18000 Sales 18000 15-Mar Sales Allowance 400 Accounts receivable 400 16-Mar Cash (bal fig) 20370 Sales discount (22500-1500)*3% 630 Accounts receivable 21000 19-Mar Cash (bal fig) 13916 Sales discount (15000-800)*2% 284 Accounts receivable 14200 23-Mar Cash (bal fig) 15288 Sales discount (16000-400)*2% 312 Accounts receivable 15600 26-Mar Accounts receivable 14000 Sales 14000 27-Mar Accounts receivable 20000 Sales 20000 28-Mar Sales Allowance 500 Accounts receivable 500 29-Mar Cash 18000 Accounts receivable 18000 8-Apr Cash 14000 Accounts receivable 18000 11-Apr Cash 20000 Accounts receivable 18000

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