SECTION:
Problem #6
Voucher System
PROFESSOR:
Ferdinand Romero Company, which employs a voucher system, had the following
transactions during the month of July 2018:
July 1 Recorded voucher no. 701 payable to Gloria for merchandise
purchased, P9,500. Terms 2/10, n/30.
2 Recorded voucher no. 702 payable to Reyes Rentals for July rent,
P7,250.
3 Issued check no. 803 in payment of voucher no. 702.
9 Recorded voucher no. 703 payable to Tanupan Express, Inc. for freight,
P520. Terms: F.O.B. shipping point.
10 Issued check no. 804 in payment of voucher no. 701 less discounts.
11 Issued check no. 805 in payment of voucher no. 703.
15 Recorded voucher no. 704 payable to Pechon Company for P8,000
merchandise; terms 2/10, n/30.
20 Received credit memo from Pechon Company for P2,000 merchandise
recorded in voucher no. 704. Canceled voucher no. 704 and issued
voucher no. 705.
24 Recorded voucher no. 706 payable to Jerusalem Company for P12,500
merchandise; terms 2/10, n/30.
Required:
Prepare the voucher and check register, and record the transactions for Ferdinand
Romero Company.