CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning Accounting, Thursday, March 8 BELL RINGER Answer the questions on the worksheet from Lesson 10-1 Journalizing sales on account using the Sales Journal

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning 2 LESSON 10-2 TERMS cash sale credit card sale point-of-sale (POS) terminal terminal summary batch report batching out cash receipts journal sales discount page 284 Define the following terms from Lesson 10-2, pages

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 10-2 Journalizing Cash Receipts Using a Cash Receipts Journal

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning 4 LESSON 10-2 PROCESSING SALES TRANSACTIONS pages UPC (Universal Product Code) Cash Register Receipt Point-of-Sale (POS) Terminal Receipt (continued on next slide)

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning 5 LESSON 10-2 PROCESSING SALES TRANSACTIONS page 277 Terminal Summary Batch Report (continued from previous slide)

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning 6 LESSON 10-2 CASH RECEIPTS JOURNAL page 278

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning 7 LESSON 10-2 CASH AND CREDIT CARD SALES page 279 November 4. Recorded cash and credit card sales, $5,460.00, plus sales tax, $327.60; total, $5, Terminal Summary Write the date. 2.Place a check mark in the Account Title column. 3.Write the terminal summary document number. 4.Place a check mark in the Post. Ref. column. 5.Write the sales amount. 6.Write the sales tax amount. 7.Write the cash amount. 7

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning 8 LESSON 10-2 CASH RECEIPTS ON ACCOUNT page 280 November 6. Received cash on account from Country Crafters, $2,162.40, covering S69. Receipt No Write the date. 2.Write the customer’s name. 3.Write the receipt number. 4.Write the credit amount. 5.Write the debit amount.

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning 9 LESSON 10-2 JOURNALIZING CASH RECEIPTS ON ACCOUNT WITH SALES DISCOUNTS page 282 November 7. Received cash on account from Cumberland Center, $1,176.00, covering Sales Invoice No. 74 for $1,200.00, less 2% discount, $ Receipt No Write the original invoice amount.1.Write the date. 2.Write the customer’s name. 3.Write the receipt number. 5.Write the amount of sales discount. 6.Write the debit to cash.

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning 10 LESSON 10-2 TOTALING, PROVING, AND RULING A CASH RECEIPTS JOURNAL page 283 Column TitleDebit TotalsCredit Totals General Debit General Credit Accounts receivable Credit Sales Credit Sales Tax Payable Credit Sales Discount Debit Cash Debit TOTALS

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning 11 LESSON 10-2 TOTALING, PROVING, AND RULING A CASH RECEIPTS JOURNAL page 283 Proving Cash: Cash on Hand at the beginning of the month (from Nov. 1 balance of general ledger cash account) $17, PLUS total cash received during the month (cash debit column, cash receipts journal) EQUALS TOTAL LESS total cash paid during the month (cash credit column total, cash payments journal) $32, EQUALS cash balance on hand at end of the month Checkbook balance on the next unused check stub Proving Cash: The balance on the next unused check stub is $23,414.84

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning 12 LESSON 5-1 ASSIGNMENT Work Together 10-2 as a Class, pg. 284

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning

15 LESSON 5-1 ASSIGNMENT On Your Own 10-2 on Aplia practice / completion grade, pg. 284 (10 points) Application 10-1: Grade It Now, page 289 Everfi Module 5 (everfi.net); Due Friday March 9 Professinal Reading due Monday March 26, 2012