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Pc Depot Case

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Exhibit 1 | General Journal | | | | | | | | | Entry | | Amount | | Number | Account | Dr. | Cr. | | | | | | | (1) | Cash | 165,000 | | | | Bank Loan Payable (15%) | | 100,000 | | | Proprietor's Capital | | 65,000 | | | | | | | | | | | | | Owner invested cash in the business of which $100,00 came from a Bank Loan. | | | | | | (2) | Rent Expense (September) | 1,485 | | | | Cash | | 1,485 | | | Paid the rent for september amounting to $1,485 | | | | | | | | (3) | Merchandise Inventory | 137,500 | | | | Accounts Payable | | 137,500 | | | Purchased merchandise inventory on account, $137,500. | | | | | | | | (4) | Furniture & Fixtures (10 year life) | 15,500 | | | | Cash | | 15,500 | | | Bought furniture & fixtures by paying cash amounting to $15,500 . | | | | | | | (5) | Advertising Expense | 1,320 | | | | Cash | | 1,320 | | | Paid $1,320 for advertising. | | | | | | | | | (6) | Wages Expense | 935 | | | | Cash | | 935 | | | Paid salary of employees, $935. | | | | | | | | | (7) | Office Supplies Expense | 1,100 | | | | Cash | | 1,100 | | | Purchased suppplies for cash, $1,100. | | | | | | | | | (8) | Utilities Expense | 275 | | | | Cash | | 275 | | | Paid utilities expense amounting to $275. | | | | | | | | | (9) | Cash | 38,000 | | | | Sales | | 38,000 | | | Cash sales for September $38,000 | | | | | | | | | (10) | Accounts Receivable | 14,850 | | | | Sales | | 14,850 | | | Credit sales for September $14,850 | | | | | | | | | (11) | Cash | 3,614 | | |

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