Accounting – 2/22/19
I. Bellwork Q&A
- What journal is used to record all cash payments?
- 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?
- 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
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