Accounting – 2/06/19
I. Bellwork
- What is the difference between the statement date and due date on an invoice/bill?
II. Objectives:
- Describe accounting procedures used in ordering merchandise.
- Discuss the purpose of a special journal.
- Explain the Journalizing of purchases of merchandise on account using a purchases journal.
III. Discussion:
Accounting for Merchandising Purchases Pgs. 249-254
- Inventory – Perpetual vs. Periodic
- Cost of Goods Sold
- Ordering Merchandise
- Using Special Journals
- Purchases Journal
- Purchase Invoice
- Purchasing Merchandise on Account
IV. Classwork
- Page 254 1-7 Q&A
- Terms (15) Page 254
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