1. LESSON 10-1 Journalizing Sales on Account Using a Sales Journal
4/21/2017
LESSON 10-1
Journalizing Sales on Account Using a Sales Journal

2. LESSON 10-1
4/21/2017
SALES TAX
page 270
LESSON 10-1

3. SALES OF MERCHANDISE ON ACCOUNT
LESSON 10-1
4/21/2017
SALES OF MERCHANDISE ON ACCOUNT
page 271
LESSON 10-1

4. LESSON 10-1
4/21/2017
SALES JOURNAL
page 272
LESSON 10-1

5. LESSON 10-1
4/21/2017
SALES INVOICE
page 272
LESSON 10-1

6. LESSON 10-1
4/21/2017
SALE ON ACCOUNT
page 273
November 3. Sold merchandise on account to Village Crafts, $540.00, plus sales tax, $32.40; total, $ Sales Invoice No. 76. 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 amount owed by the customer.
5. Write the sales amount.
6. Write the sales tax amount.
LESSON 10-1

7. TOTALING, PROVING, AND RULING A SALES JOURNAL
LESSON 10-1
4/21/2017
TOTALING, PROVING, AND RULING A SALES JOURNAL
page 274
LESSON 10-1

8. TERMS REVIEW customer sales tax sales journal page 275 LESSON 10-1
4/21/2017
TERMS REVIEW
page 275
customer
sales tax
sales journal
LESSON 10-1

9. LESSON 10-1 Journalizing Cash Receipts Using a Cash Receipts Journal
4/21/2017
LESSON 10-2
Journalizing Cash Receipts Using a Cash Receipts Journal

10. PROCESSING SALES TRANSACTIONS
LESSON 10-2
4/21/2017
PROCESSING SALES TRANSACTIONS
pages
UPC (Universal Product Code)
Cash Register Receipt
Point-of-Sale (POS) Terminal Receipt
(continued on next slide)
LESSON 10-2
Blue

11. PROCESSING SALES TRANSACTIONS
LESSON 10-1
4/21/2017
PROCESSING SALES TRANSACTIONS
page 277
Terminal Summary
Batch Report
(continued from previous slide)
LESSON 10-2

12. LESSON 10-1
4/21/2017
CASH RECEIPTS JOURNAL
page 278
LESSON 10-2

13. CASH AND CREDIT CARD SALES
LESSON 10-1
4/21/2017
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 34. 2 4 1 3 5 6 7
1. 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.
LESSON 10-2

14. CASH RECEIPTS ON ACCOUNT
LESSON 10-1
4/21/2017
CASH RECEIPTS ON ACCOUNT
page 280
November 6. Received cash on account from Country Crafters, $2,162.40, covering S69. Receipt No. 90. 1 2 3 4 5
1. Write the date.
2. Write the customer’s name.
3. Write the receipt number.
4. Write the credit amount.
5. Write the debit amount.
LESSON 10-2

15. JOURNALIZING CASH RECEIPTS ON ACCOUNT WITH SALES DISCOUNTS
LESSON 10-1
4/21/2017
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. 91. 1 2 3 4 5 6
1. Write the date.
4. Write the original invoice amount.
2. Write the customer’s name.
5. Write the amount of sales discount.
3. Write the receipt number.
6. Write the debit to cash.
LESSON 10-2

16. TOTALING, PROVING, AND RULING A CASH RECEIPTS JOURNAL
LESSON 10-1
4/21/2017
TOTALING, PROVING, AND RULING A CASH RECEIPTS JOURNAL
page 283
Proving Cash:
LESSON 10-2

17. LESSON 10-1
4/21/2017
LET’S REVIEW
page 284
What transactions are recording in the cash receipts journal?
What is a POS system and why is it preferable to a regular cash register?
What information can be gained from the terminal summary?
What is meant by “batching out”?
Explain a sales discount?
Explain the accounting concept
LESSON 10-2

18. Recording Transactions Using a General Journal
LESSON 10-3
4/21/2017
LESSON 10-3
Recording Transactions Using a General Journal
Sales Related Transactions
Sales Returns
Sales Allowances
Credit Memorandums – Source Document for a return or an allowance

19. CREDIT MEMORANDUM FOR SALES RETURNS AND ALLOWANCES
LESSON 10-1
4/21/2017
CREDIT MEMORANDUM FOR SALES RETURNS AND ALLOWANCES
page 285
LESSON 10-3

20. JOURNALIZING SALES RETURNS AND ALLOWANCES
LESSON 10-1
4/21/2017
JOURNALIZING SALES RETURNS AND ALLOWANCES
page 286
March 11. Granted credit to Village Crafts for merchandise returned, $58.50, plus sales tax, $3.51, from S160; total, $ Credit Memorandum No. 41. 2 4 1 3 5 6 9 8 7
1. Write the date.
6. Write the sales tax amount.
2. Write Sales Returns and Allowances.
7. Write the accounts to be credited.
3. Write CM and the credit memorandum number.
8. Draw a diagonal line in the Post. Ref. column.
4. Write the amount of the sales return.
9. Write the total accounts receivable amount.
5. Write Sales Tax Payable.
LESSON 10-3

21. LESSON 10-1
4/21/2017
ITEMS FOR REVIEW:
page 287
What is the difference between a sales return and sales allowance?
What is the source document for a sales return and allowance?
What general ledger accounts are affected, and how, by a sales returns and allowances transaction?
Why are sales returns and allowances not debited to the sales account?
LESSON 10-3