CASH PAYMENT JOURNAL
PURCHASE
RETURNS JOURNAL
issued)
↳ cash invoice, bank statement, debit order
->
debit notes
credit
card, cash register slips
->
reduce credit purchases
↳ CP5
groups transactions
totalcolumn
↳bank:
I bank
is an
money
when
->
flows out
activities in cp5
asset: N
t
->
bank balance
->
purchase return
total
->
making
-
(e.g
making
send things
activity
is
creditors balance less
by
->
↳ discounts
A 0E+1
=
recieved
and
SALES JOURNAL
->
-
in
brackets
->
always negative
sell
CASH RECIEPT JOURNAL
groups
->
activities
recepts,
cash
together
cash invoice, bank
register slips, credit card
-> cash
side, bank total
-
the different
column
layouts
recepts i bank balance
credit contra-accounts
->
->
discount allowed is
->
->
->
->
->
to serve their specific purpose
group activities
on
credit
in Journals
(debitaccount expense)
income (income
client returns
credit to
-
4)
JOURNAL
goods/services/error
credit note
->
and 'post' the
total
->
totals to the T account.
1
amount
decreasing
debtors
↳ debtor asset credit to t
-
=
other columns post to credit side
GENERAL
JOURNAL
PURCHASE
->
credit/render services
SALES RETURN
journals have dif formats)
->
in brackets
on
total amount
Journals
where we receive cash
statements, deposit slips,
1 on debit
bank is an asset
->
goods
-> sales Invoice
->
->
total
account
posted
debits credits
must be
error
(credit account)
+
↳ contra acc for bank
↳ each line
invoice amount
back,
expenses/assets purchased less
↳ debit
creditors control
on Cr
↳ column determines which as the
(we
groups activities together where
we
purchase
on
credit
->
purchase Invole
purchasing
on
credit
total column:
amount
->
->
by
lability
which
=credit
on
creditors control
creditors
(lability)
control account
i
JOURNAL
transactions outof the normal course of
closing-off
business
of records
correction of mistakes
->
->
adjustment
to items
casset become an expense)
activities where the owner
->
->
transactions
in
the
line basis to the
is
involved
general Journal
ledger
are
postedon a line
by
on invoice