Departmental Sales on Account and Sales Returns and Allowances LESSON 2-1 2/18/2019 LESSON 2-1 Departmental Sales on Account and Sales Returns and Allowances RED

JOURNALIZING SALES ON ACCOUNT page 37 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 2 3 4 5 6 1. Write the date. 2. Write the customer name. 3. Write the sales invoice number. 4. Write the total invoice amount. 5. Write the sales tax payable amount. 6. Write the sales amount. LESSON 2-1

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

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

JOURNALIZING SALES RETURNS AND ALLOWANCES page 40 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. 2 1 4 3 5 7 6 1. Write date. 5. Enter accounts to be credited. 2. Enter accounts to be debited. 6. Draw diagonal line. 3. Record credit memo number. 7. Write credit amount. 4. Write debit amounts. LESSON 2-1

POSTING FROM GENERAL JOURNAL page 41 2 1. Date 2. Journal page number 3 3. Debit amounts 1 4. Credit amount 4 5 5. Account numbers LESSON 2-1

TERM REVIEW page 43 credit memorandum LESSON 2-1