1. Do Now Write down the Normal Balances of the following accounts: Cash
LESSON 3-1
10/1/2017
Do Now
Write down the Normal Balances of the following accounts:
Cash AR
Supplies AP
Revenue
Expenses
Drawing
Capital
Debit
Credit
GREEN

2. A GENERAL JOURNAL
page 57
General Journal has 2 amount columns and all kinds of entries can be found in chronological order.
Double – Entry Accounting: Each transaction effects at least 2 accounts. Both the debit and credit are recorded, reflecting the dual effect of each transaction on the businesses records.
LESSON 3-1

3. Source Documents
A business paper from which information is obtained for a journal entry. Each transaction is described by a source document that proves that the transaction did occur. What is an example of a source document? If I paid off an AP, what would be my source doc? Do you ever mail cash?
LESSON 3-1

4. CHECKS
page 58
LESSON 3-1

5. LESSON 3-1

6. What if we sell something on account? How do we document it?
LESSON 3-1

7. SALES INVOICES
page 58
LESSON 3-1

8. Receipts When CASH is received from sources OTHER THAN SALES receipt
LESSON 3-1

9. LESSON 3-1
10/1/2017
Memo
page 59
memorandum
When no other source doc is prepared for a transaction, or additional info is needed
LESSON 3-1
GREEN

10. Calculator Tape
calculator tape
Source Doc for Daily Sales
LESSON 3-1

11. RECEIVED CASH FROM OWNER AS AN INVESTMENT
page 60
August 1. Received cash from owner as an investment, $5, Receipt No. 1. 2 1 3 4
1. Write the date in the Date column.
2. Write the title of the account debited. Write the debit amount.
3. Write the title of the account credited. Write the credit amount.
4. Write the source document number in the Doc. No. column.
LESSON 3-1

12. PAID CASH FOR SUPPLIES
page 61
August 3. Paid cash for supplies, $ Check No. 1. 2 1 3 4
1. Write the date in the Date column.
2. Write the title of the account debited. Write the debit amount.
3. Write the title of the account credited. Write the credit amount.
4. Write the source document number in the Doc. No. column.
LESSON 3-1

13. Workbook Pg 37 Text Pg 62 Working Together Workbook Pg 39 On Your Own

14. TERMS REVIEW journal journalizing entry general journal
page 62
journal
journalizing
entry
general journal
double-entry accounting
source document
check
invoice
sales invoice
receipt
memorandum
LESSON 3-1