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Published byErick Lynch
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The source document for all cash payments. CHECK
The source document for cash received from transactions other than sales. RECEIPT
The source document for daily sales. CALCULATOR TAPE
Receiving cash from sales ______ both cash and sales. INCREASES
How do you correct an error in a journal? DRAW A LINE THROUGH THE ERROR AND MAKE CORRECTION ON TOP
A transaction recorded in a journal is considered a ______ record. PERMANENT
Transactions are recorded in a journal in _________ order. CHRONOLOGICAL
A complete entry consists of the ____, the _____the ____ _____, the _____ amount, and the _____ amount. DATE ACCOUNT TITLE SOURCE DOCUMENT DEBIT CREDIT
The ____ of the month is written on each journal page for every entry. DAY
A general journal page is complete when there is insufficient space to record any more _____. ENTRIES
Each general journal entry requires at least ___ lines. TWO
The ______ Evidence accounting concept requires proof that a transaction did occur. OBJECTIVE
Businesses usually journalize transactions ______. DAILY
Errors in general journal entries should be ____ as soon as they are discovered. CORRECTED (Remember, no erasing)
DEFINITION: A form on which a brief message is written describing a transaction. MEMORANDUM
DEFINITION: Recording transactions in a journal. JOURNALIZING
Definition: The recording of debit and credit parts of a transaction. DOUBLE-ENTRY ACCOUNTING
DEFINITION: A form for recording transactions in chronological order. JOURNAL
DEFINITION: A business form giving written acknowledgment for cash received. RECEIPT
DEFINITION: The _____ journal with two amount columns in which all kinds of entries can be recorded. GENERAL JOURNAL
DEFINITION: A form describing the goods or services sold, the quantity, and the price. INVOICE
DEFINITION: Information for each transaction recorded in a journal. ENTRY
DEFINITION: A business paper from which information is obtained for a journal entry. SOURCE DOCUMENT
DEFINITION: A business form ordering a bank to pay cash from a bank account. CHECK
DEFINITION: An invoice used as a source document for recording a sale on account. SALES INVOICE
You will also have to journalize 20 transactions in a general journal.
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Journalizing Transactions. General Notes If a co. receives cash – it is ALWAYS a debit. If a co. receives cash – it is ALWAYS a debit. If a co. pays cash.
Journals, Source Documents, and Recording Entries in a Journal
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 3-1 Journals, Source Documents, and Recording Entries in a Journal.
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Accounting Cycle Source Document › Invoice › Receipt › Memorandum › Check Stub Journal Journalizing Calendar Year Fiscal Year General Journal.
Chapter 4 - Journalizing Transactions
CENTURY 21 ACCOUNTING © Thomson/South-Western LESSON 3-1 Journals, Source Documents, and Recording Entries in a Journal Original created by M.C. McLaughlin,
Recording Transactions in a General Ledger. Journal – a form for recording transactions in chronological order. Journaling – recording transactions in.
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FINANCIAL STATEMENTS Corporation Financial condition is Public information Posted on the internet Posted Quarterly and yearly Company financials: Posted.
Journalizing Transactions. 2 5 column journal 7. Journals and Journalizing page 56 Journal – a form for recording transactions in chronological order.
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Beginning The Accounting cycle. Accounting Cycle:
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