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The source document for all cash payments. CHECK.

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Presentation on theme: "The source document for all cash payments. CHECK."— Presentation transcript:

1 The source document for all cash payments. CHECK

2 The source document for cash received from transactions other than sales. RECEIPT

3 The source document for daily sales. CALCULATOR TAPE

4 Receiving cash from sales ______ both cash and sales. INCREASES

5 How do you correct an error in a journal? DRAW A LINE THROUGH THE ERROR AND MAKE CORRECTION ON TOP

6 A transaction recorded in a journal is considered a ______ record. PERMANENT

7 Transactions are recorded in a journal in _________ order. CHRONOLOGICAL

8 A complete entry consists of the ____, the _____the ____ _____, the _____ amount, and the _____ amount. DATE ACCOUNT TITLE SOURCE DOCUMENT DEBIT CREDIT

9 The ____ of the month is written on each journal page for every entry. DAY

10 A general journal page is complete when there is insufficient space to record any more _____. ENTRIES

11 Each general journal entry requires at least ___ lines. TWO

12 The ______ Evidence accounting concept requires proof that a transaction did occur. OBJECTIVE

13 Businesses usually journalize transactions ______. DAILY

14 Errors in general journal entries should be ____ as soon as they are discovered. CORRECTED (Remember, no erasing)

15 DEFINITION: A form on which a brief message is written describing a transaction. MEMORANDUM

16 DEFINITION: Recording transactions in a journal. JOURNALIZING

17 Definition: The recording of debit and credit parts of a transaction. DOUBLE-ENTRY ACCOUNTING

18 DEFINITION: A form for recording transactions in chronological order. JOURNAL

19 DEFINITION: A business form giving written acknowledgment for cash received. RECEIPT

20 DEFINITION: The _____ journal with two amount columns in which all kinds of entries can be recorded. GENERAL JOURNAL

21 DEFINITION: A form describing the goods or services sold, the quantity, and the price. INVOICE

22 DEFINITION: Information for each transaction recorded in a journal. ENTRY

23 DEFINITION: A business paper from which information is obtained for a journal entry. SOURCE DOCUMENT

24 DEFINITION: A business form ordering a bank to pay cash from a bank account. CHECK

25 DEFINITION: An invoice used as a source document for recording a sale on account. SALES INVOICE

26 You will also have to journalize 20 transactions in a general journal.

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