Accounting, Thursday, March 8
BELL RINGER
Answer the questions on
the worksheet from Lesson 10-1
Journalizing sales on account using the
Sales Journal
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
2
TERMS
page 284
Define the following terms from Lesson 10-2, pages 276-284








cash sale
credit card sale
point-of-sale (POS) terminal
terminal summary
batch report
batching out
cash receipts journal
sales discount
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
LESSON 10-2
LESSON 10-2
Journalizing Cash
Receipts Using a Cash
Receipts Journal
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
4
PROCESSING SALES
TRANSACTIONS
Cash Register
Receipt
UPC (Universal
Product Code)
pages 276- 277
Point-of-Sale (POS)
Terminal Receipt
(continued on next slide)
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
LESSON 10-2
5
PROCESSING SALES
TRANSACTIONS
page 277
Terminal Summary
Batch Report
(continued from previous slide)
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
LESSON 10-2
6
CASH RECEIPTS JOURNAL
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
page 278
LESSON 10-2
7
CASH AND CREDIT CARD SALES
page 279
November 4. Recorded cash and credit card sales, $5,460.00, plus
sales tax, $327.60; total, $5,787.60. Terminal Summary 34.
2
1
1.
2.
3.
4.
5.
6.
7.
4
3
5
6
7
Write the date.
Place a check mark in the Account Title column.
Write the terminal summary document number.
Place a check mark in the Post. Ref. column.
Write the sales amount.
Write the sales tax amount.
Write the cash amount.
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
LESSON 10-2
8
CASH RECEIPTS ON ACCOUNT
page 280
November 6. Received cash on account from Country Crafters,
$2,162.40, covering S69. Receipt No. 90.
1
1.
2.
3.
4.
5.
2
3
4
5
Write the date.
Write the customer’s name.
Write the receipt number.
Write the credit amount.
Write the debit amount.
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
LESSON 10-2
9
JOURNALIZING CASH RECEIPTS ON
ACCOUNT WITH SALES DISCOUNTS
page 282
November 7. Received cash on account from Cumberland Center,
$1,176.00, covering Sales Invoice No. 74 for $1,200.00, less 2%
discount, $24.00. Receipt No. 91.
1
2
3
1. Write the date.
2. Write the customer’s name.
3. Write the receipt number.
4
5
6
4. Write the original invoice amount.
5. Write the amount of sales discount.
6. Write the debit to cash.
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
LESSON 10-2
10
TOTALING, PROVING, AND RULING A
CASH RECEIPTS JOURNAL
Column Title
General Debit
General Credit
Accounts receivable Credit
Sales Credit
Sales Tax Payable Credit
Sales Discount Debit
Cash Debit
TOTALS
Debit Totals
page 283
Credit Totals
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
LESSON 10-2
11
TOTALING, PROVING, AND RULING A
CASH RECEIPTS JOURNAL
page 283
Proving Cash: The balance on the next unused check stub is $23,414.84
Proving Cash:
Cash on Hand at the beginning of the month (from Nov. 1
balance of general ledger cash account)
PLUS total cash received during the month
(cash debit column, cash receipts journal)
EQUALS TOTAL
LESS total cash paid during the month
(cash credit column total, cash payments journal)
EQUALS cash balance on hand at end of the month
Checkbook balance on the next unused check stub
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
$17,647.44
$32,901.40
LESSON 10-2
12
ASSIGNMENT
Work Together 10-2 as a
Class, pg. 284
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
LESSON 5-1
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
15
ASSIGNMENT
 On Your Own 10-2 on Aplia practice / completion
grade, pg. 284 (10 points)
 Application 10-1: Grade It Now, page 289
 Everfi Module 5 (everfi.net); Due Friday March 9
 Professinal Reading due Monday March 26, 2012
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
LESSON 5-1