Đang chuẩn bị liên kết để tải về tài liệu:
Lecture College accounting (13/e): Chapter 7 - Price, Haddock, Farina

Chapter 7 - Accounting for sales and accounts receivable. After reading this chapter, you should be able to: Record credit sales in a sales journal, post from the sales journal to the general ledger accounts, post from the sales journal to the customers' accounts in the accounts receivable subsidiary ledger, record sales returns and allowances in the general journal, post sales returns and allowances,. | 1- McGraw-Hill/Irwin Copyright © 2012 by The McGraw-Hill Companies, Inc. All rights reserved. Accounting for Sales and Accounts Receivable Section 1: Merchandise Sales Chapter 7 Section Objectives Record credit sales in a sales journal. Post from the sales journal to the general ledger accounts. Journals Used by Merchandising Businesses Sales Purchases Cash receipts Cash payments General To record sales of merchandise on credit To record purchases of merchandise on credit To record cash received from all sources Type of Journal Purpose To record all disbursements of cash To record all transactions that are not recorded in another special journal and all adjusting and closing entries Ledgers Used by Merchandising Businesses General Accounts receivable Accounts payable Assets, liabilities, owner’s equity, revenue, and expense accounts Accounts for credit customers Accounts for credit vendors/suppliers, and other creditors Type of Ledger Content SALES JOURNAL PAGE 1 SALES ACCOUNTS | 1- McGraw-Hill/Irwin Copyright © 2012 by The McGraw-Hill Companies, Inc. All rights reserved. Accounting for Sales and Accounts Receivable Section 1: Merchandise Sales Chapter 7 Section Objectives Record credit sales in a sales journal. Post from the sales journal to the general ledger accounts. Journals Used by Merchandising Businesses Sales Purchases Cash receipts Cash payments General To record sales of merchandise on credit To record purchases of merchandise on credit To record cash received from all sources Type of Journal Purpose To record all disbursements of cash To record all transactions that are not recorded in another special journal and all adjusting and closing entries Ledgers Used by Merchandising Businesses General Accounts receivable Accounts payable Assets, liabilities, owner’s equity, revenue, and expense accounts Accounts for credit customers Accounts for credit vendors/suppliers, and other creditors Type of Ledger Content SALES JOURNAL PAGE 1 SALES ACCOUNTS SALES TAX DATE SLIP CUSTOMER’S NAME POST. RECEIVABLE PAYABLE SALES NO. REF. DEBIT CREDIT CREDIT 2013 Jan. 3 1101 Ann Anh 702.00 52.00 650.00 8 1102 Cathy Ball 648.00 48.00 600.00 11 1103 Barbara Coe 756.00 56.00 700.00 15 1104 Amalia Rodriguez 324.00 24.00 300.00 18 1105 Fred Wu 810.00 60.00 750.00 21 1106 Linda Carter 486.00 36.00 450.00 28 1107 Kim Ramirez 108.00 8.00 100.00 29 1108 Mesia Davis 1080.00 80.00 1000.00 31 1109 Alma Sanchez 972.00 72.00 900.00 31 1110 Ann Anh 270.00 20.00 250.00 31 Totals 6,156.00 456.00 5.700.00 With a sales journal it is not necessary to post each credit sale individually to general ledger accounts Instead, summary postings are made at the end of the month after the transaction amount columns of the sales journal are totaled. Objective 2 Post from the sales journal to the general ledger accounts 7- 2 5 3 1 4 The general ledger account numbers are entered in parentheses under column totals Advantages of a Sales Journal Saves .