Accounting – 2/22/19

  I.  Bellwork  Q&A

  1. What journal is used to record all cash payments?
  2. If $3500.00 of merchandise is purchased on credit with the terms 2/10 n/30, what will be the potential dollar amount of the discount taken?
  3. Based upon question #2, what will be the amount paid to the creditor after the discount is taken?

II Objectives:

  • Follow and apply proper procedures for posting from a cash payments journal
  • Post cash payments to an accounts payable ledger and a general ledger.

III. Discussion pages 267-272

Posting from a Cash Payments Journal

  • Posting Cash Payments to Accounts Payable Ledger
  • Posting Cash Payments General Amount Column to a General Ledger
  • Totaling, Proving, and Ruling a Cash Payments General.
  • Posting from Special Amount Columns of a Cash Payments Journal to a General Ledger
  • Proving Accounts Payable

IV.   Classwork

  • 9-5 Working Together and  On Your Own
  • 9-5 Application Problem

 


Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Follow this blog

Get every new post delivered right to your inbox.




Skip to toolbar