VCE Accounting Unit 3
Chapter 5: Special Journals
Key knowledge
 Special Journals vs Double Entry Accounting
State two advantages of Special Journals compare to double entry accounting
(p 82)
1…………………………………………………………………………………………
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2…………………………………………………………………………………………
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 How do we use special journals work for general ledger? (p82)

 Role of Special Journal
What is special journal? (p82)

How many types of special journals are often used by small business?
(p82-83)
Special Journal
What does it record?
Type of source documents
Example of Cash Receipts Journal (Figure 5.2, p 84)
Business name: name of special journal + reporting period
Date Details Rec.
Bank Debtors Cost
Sales
no
$
of
sales
Transaction
details
*write
debtors
name if there are
many
Write
Rec.
No. of
cash
GST
Sundries
GST
received
(Increas
e L)
Bank (increase cash at bank) = Total of other columns
Totals of cash receipts for each vertical column=total Dr. or Cr for related
Ledger Accounts.
Key Ledger Accounts relate to CRJ
CRJ
Cash Sales
Cost of Sales
Debtors
GST (received)
Sundries
Ledger Accounts
Sales
Cash at Bank
Cost of sales
Stock control
Debtors Control (under different
debtor’s name)
Cash at Bank
GST Clearing
Depends
-Capital
-Interest on Investment/received
**************************************Your work*******************************
Example of Cash Payments Journals (Figure 5.4, p87)