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:
- Record an EFT payment for an Accounts Payable
- 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.