1. CENTURY 21 ACCOUNTING © Thomson/South-Western LESSON 2-1 Departmental Sales on Account and Sales Returns and Allowances

2. CENTURY 21 ACCOUNTING © Thomson/South-Western 2 LESSON 2-1 June 1. Sold audio equipment on account to Kim Electronics, $280.00, plus sales tax, $23.10; total, $303.10. Sales Invoice No. 101. 1.Write the date. 5.Write the sales tax payable amount. 4.Write the total invoice amount. 3.Write the sales invoice number. 2.Write the customer name. 6.Write the sales amount. JOURNALIZING SALES ON ACCOUNT page 37 123456

3. CENTURY 21 ACCOUNTING © Thomson/South-Western 3 LESSON 2-1 4.Enter account balance. 3.Enter amount in Debit column. 2.Write sales journal page. 1.Write date. 5.Write customer number in Post. Ref. column of sales journal. POSTING FROM A SALES JOURNAL TO THE ACCOUNTS RECEIVABLE LEDGER page 38 1 2 3 4 5

4. CENTURY 21 ACCOUNTING © Thomson/South-Western 4 LESSON 2-1 3.Enter debit amount. 2.Write sales journal page. 4.Enter account balance.1.Write date. 5.Write general ledger account number in parentheses. POSTING FROM A SALES JOURNAL TO A GENERAL LEDGER ACCOUNT page 39 1 3 4 5 2

5. CENTURY 21 ACCOUNTING © Thomson/South-Western 5 LESSON 2-1 June 5. Granted credit to Kim Electronics for audio equipment returned, $130, plus sales tax, $10.73, from Sales Invoice No. 101; total, $140.73. Credit Memo No. 43. JOURNALIZING SALES RETURNS AND ALLOWANCES page 40 3.Record credit memo number. 4.Write debit amounts. 1.Write date. 2.Enter accounts to be debited. 5.Enter accounts to be credited. 6.Draw diagonal line. 2 3 4 5 6 7.Write credit amount. 1 7

6. CENTURY 21 ACCOUNTING © Thomson/South-Western 6 LESSON 2-1 POSTING FROM GENERAL JOURNAL page 41 2.Journal page number 1.Date 5.Account numbers 3.Debit amounts 4.Credit amount 1 1 1 1 1 2 2 2 2 2 3 3 3 4 4 4 5 5 5 5 5

7. CENTURY 21 ACCOUNTING © Thomson/South-Western 7 LESSON 2-1 TERM REVIEW credit memorandum page 43