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{"ops":[{"insert":"Analyzing various transactions : Purchase and Sale\n\nThe following transactions took place between Yamaha Company, a manufacturer of piano and\nRhelJohn Store, a distributor.\n1. Yamaha Company shipped 10 units of piano having a list price of P2,500 each to RJ Store.\nTerms, 5,2\/10,n\/30,F.O.B, Shipping point. Freight of P800 was paid by Rj store for the\nshipment.\n2. RhelJohn store returned 1 unit due to defective quality.\n3. RhelJohn Store paid the account in full within the discount period.\n\nREQUIRED: Complete the table below and analyze each transaction as to their effects on the accounting\nequation.\n\nDescription of each transaction Account Debited Account Credited\n\n1. Effect on the Accounting Equation\nASSETS = LIABILITIES = OWNER\u2019S EQUITY\n\n2. Effect on the Accounting Equation\nASSETS = LIABILITIES = OWNER\u2019S EQUITY\n\n3. Effect on the Accounting Equation\nASSETS = LIABILITIES = OWNER\u2019S EQUITY\n\n\n"}]}
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