Accounting 2 – 3/29/17
I. Bellwork
- Explain a time you or someone you know had to return something to a store or received credit for a purchase online.
- How did they know how much money they should be refunded?
II. Objective
- Account for sales returns and allowances.
- Post a general journal to the accounts receivable ledger and general ledger.
- Record a correcting entry to the accounts receivable ledger.
III. Recording Sales Transactions Using a General Journal
Discussion Pages 327-331
- Credit Memorandum for Sales returns and Allowances
- Journalizing Sales Return & Allowances
- Posting from a General Journal to an Accounts Receivable Ledger
- Correcting Errors in Subsidiary Ledger Accounts
IV. Classwork p331
- 11-2 Working Together & On Your Own – Working papers & Aplia
- 11-2 Application on Aplia p339
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