Accounting 11/29/07

Objective: 

  • Define accounting terms related to using a checking account.
  • Identify accounting concepts and practices related to using a checking account and petty cash.
  • Journalize dishonored checks and electronic banking transactions
  • Reconcile a bank statement 
  • Establish and replenish a petty cash fund.

I.  Bellwork (5 min)

A.  What is the jornal entry (dr. & cr.) to:

  1. Record an EFT payment for an Accounts Payable
  2. Record the establishment of a petty cash fund

II.  Chapter 6 Test

III.  Notebook Work PG 139

A.  What types of errors should be safe guarded against? 

B.  List 4 ways to control/safeguard cash.


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