1. LESSON 9-4 Journalizing Other Transactions Using a General Journal
5/24/2019
LESSON 9-4
Journalizing Other Transactions Using a General Journal

2. CASH PAYMENTS REVIEW Paid cash for advertising $150, check #292.
LESSON 9-4

3. CASH PAYMENTS REVIEW Paid $94 in cash for office supplies. Check 293.
LESSON 9-4

4. CASH PAYMENTS REVIEW
Paid cash for merchandise with a list price of $6,300 with a 5% trade discount.
LESSON 9-4

5. CASH PAYMENTS REVIEW
Paid cash on account for $498, less a 2% discount.
LESSON 9-4

6. CASH PAYMENTS REVIEW
Paid cash on account for$2,650. No cash discount is offered.
LESSON 9-4

7. Using General Journal (The old way)
Not all transactions can be recorded in a special journal.
So far we have used:
Purchases Journal (record of merchandise on acct)
Cash Payments Journal (buy/pay for items using cash)
For example, buying supplies on account cannot be recorded as a purchase since no merchandise was bought. Buying supplies on account is not paid using cash so it cannot use the Cash Payments journal.
LESSON 9-4

8. PURCHASING MERCHANDISE ON ACCOUNT
page 239
November 2. Purchased merchandise on account from Crown Distributing, $2, Purchase Invoice No. 83. 2 1 3 4
REVIEW
1. Write the date.
2. Write the vendor name.
3. Write the purchase invoice number.
4. Write the amount of the invoice.
LESSON 9-1

9. LESSON 9-4

10. BUYING SUPPLIES ON ACCOUNT
LESSON 9-4
5/24/2019
BUYING SUPPLIES ON ACCOUNT
page 255
November 6. Bought store supplies on account from Gulf Craft Supply, $ Memorandum No. 52. 2 4 3 7 1 6 5
1. Write the date.
5. Write the account title and vendor name.
2. Write the account title.
6. Place a diagonal line in the Post. Ref. column.
3. Write the memorandum number.
4. Write the debit amount.
7. Write the credit amount.
LESSON 9-4

11. 9-4 WT & OYO
LESSON 9-4

12. Making a Return
When a customer is not happy with a product they can usually return the product with a full refund or keep the product at a reduced price.
If a customer returns an item, it will decrease what they owe, and will decrease their accounts payable.
A decrease in accounts payable due to a return of merchandise is a purchases return.
LESSON 9-4

13. Making a Return
When a customer is unsatisfied with a purchase and wants a reduced price for the item, it will decrease what the customer owes, therefor reducing their accounts payable. This is called a purchases allowance.
Returns should be recorded on a debit memorandum form.
LESSON 9-4

14. Purchases Returns and Allowance
Debit
Credit
(Normal Balance)
Contra Account to Purchases
LESSON 9-4

15. JOURNALIZING PURCHASES RETURNS AND ALLOWANCES
page 257
November 28. Returned merchandise to Crown Distributing, $252.00, covering Purchase Invoice No. 80. Debit Memorandum No. 78. 2 5 1 3 4 6 7
1. Write the date.
4. Write debit memorandum number.
2. Write the account title and vendor name.
5. Write the amount.
6. Write Purchases Returns and Allow.
3. Place a diagonal line in the Post. Ref. column.
7. Write the amount.
LESSON 9-4

16. 9-4 WT & OYO
LESSON 9-4