Correcting Errors in Subsidiary Ledger Accounts

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Presentation transcript:

Correcting Errors in Subsidiary Ledger Accounts 11/16/11 LESSON 11-5 Correcting Errors in Subsidiary Ledger Accounts

JOURNALIZING CORRECTING ENTRIES AFFECTING CUSTOMER ACCOUNTS 11/16/11 JOURNALIZING CORRECTING ENTRIES AFFECTING CUSTOMER ACCOUNTS page 327 December 10. Discovered that a sale on account to Cumberland Center on December 3 was incorrectly charged to the account of Country Crafters, $412.00. Memorandum No. 56. 2 4 1 5 3 6 1. Write the date. 5. Write the name of incorrectly charged customer. 2. Write the name of correct customer. 6. Write the amount. 3. Write the memorandum number. 4. Write the amount. LESSON 11-5

POSTING CORRECTING ENTRIES AFFECTING CUSTOMER ACCOUNTS 11/16/11 POSTING CORRECTING ENTRIES AFFECTING CUSTOMER ACCOUNTS page 328 2 1 3 5 1. Write the date. 2. Write the general journal page number. 3. Write the amount. 4. Calculate and write the new account balances. 4 5. Write the appropriate customer number in the Post. Ref. columns. LESSON 11-5