10 pt 15 pt 20 pt 25 pt 5 pt 10 pt 15 pt 20 pt 25 pt 5 pt 10 pt 15 pt 20 pt 25 pt 5 pt 10 pt 15 pt 20 pt 25 pt 5 pt 10 pt ...
A special journal used to record only sales of merchandise on account.
Sales Journal
A deduction that a vendor allows on the invoice amount to encourage prompt payment on sales.
Sales discount
Credit allowed a customer for the sales price of returned merchandise, resulting in a decrease in the vendor’s accounts re...
Sales return
A form signed by a buyer at the time of a sale of merchandise in which the buyer promises to pay the seller a specified su...
Trade acceptance
A receipt signed by the authorized agent of a transportation company for merchandise received that also serves as a contra...
Bill of Lading
Goods or services shipped out of a seller’s home country to a foreign country.
exports
A letter issued by a bank guaranteeing that a named individual or business will be paid a specified amount provided stated...
Letter of credit
A written, signed, and dated order from one party ordering another party, usually a bank, to pay money to a third party.
draft
When recording an international cash sale, these accounts are affected in this way and recorded in this journal.
Cash – Debit Sales – Credit Cash Receipts
When receiving a time draft for an international sale, these accounts are affected and recorded in this journal.
Time Drafts Receivable – Debit Sales Credit General Journal
The three columns in the sales journal.
Accounts Receivable Debit Sales Credit Sales Tax Payable Credit
The source document for a sale on account.
Sales Invoice
The accounting concept that states: regardless of when cash is received, revenue should be recorded when merchandise is so...
Realization of Revenue
A business owes the sales taxes collected to this.
State Government
When organizations like schools do not have to pay sales tax, they are said to be this.
Exempt
When recording cash and credit card sales, this is placed in the account title column.
Check Mark
The source document used when recording cash and credit card sales.
Cash Register Tape
The amount to place in the sales tax payable debit column in the transaction receiving cash on account from Ten Company, $...
$1.44
A contra account to sales
Sales Discount
A deduction on the invoice amount is given for this reason.
To encourage early payment
The original copy of a credit memorandum is given to the customer.  The second copy is used as the source document.  This ...
Objective Evidence
The normal balance of the Sales Returns and Allowances account.
Debit
The best order to post from the journals.
Sales Journal Purchases Journal General Journal Cash Receipts Journal Cash Payments Journal
A listing of customer accounts, account balances, and total amount due from all customers.
Schedule of Accounts Receivable
Business transactions are stated in numbers that have common values.
UNIT OF MEASUREMENT
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A Special Journal Used To Record Only Sales Of Merchandise On Account

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A Special Journal Used To Record Only Sales Of Merchandise On Account

  1. 1. 10 pt 15 pt 20 pt 25 pt 5 pt 10 pt 15 pt 20 pt 25 pt 5 pt 10 pt 15 pt 20 pt 25 pt 5 pt 10 pt 15 pt 20 pt 25 pt 5 pt 10 pt 15 pt 20 pt 25 pt 5 pt Accounting Terms International Sales Sales On Account Cash Receipts General Journal
  2. 2. A special journal used to record only sales of merchandise on account.
  3. 3. Sales Journal
  4. 4. A deduction that a vendor allows on the invoice amount to encourage prompt payment on sales.
  5. 5. Sales discount
  6. 6. Credit allowed a customer for the sales price of returned merchandise, resulting in a decrease in the vendor’s accounts receivable.
  7. 7. Sales return
  8. 8. A form signed by a buyer at the time of a sale of merchandise in which the buyer promises to pay the seller a specified sum of money, usually at a stated time in the future.
  9. 9. Trade acceptance
  10. 10. A receipt signed by the authorized agent of a transportation company for merchandise received that also serves as a contract for the delivery of the merchandise.
  11. 11. Bill of Lading
  12. 12. Goods or services shipped out of a seller’s home country to a foreign country.
  13. 13. exports
  14. 14. A letter issued by a bank guaranteeing that a named individual or business will be paid a specified amount provided stated conditions are met.
  15. 15. Letter of credit
  16. 16. A written, signed, and dated order from one party ordering another party, usually a bank, to pay money to a third party.
  17. 17. draft
  18. 18. When recording an international cash sale, these accounts are affected in this way and recorded in this journal.
  19. 19. Cash – Debit Sales – Credit Cash Receipts
  20. 20. When receiving a time draft for an international sale, these accounts are affected and recorded in this journal.
  21. 21. Time Drafts Receivable – Debit Sales Credit General Journal
  22. 22. The three columns in the sales journal.
  23. 23. Accounts Receivable Debit Sales Credit Sales Tax Payable Credit
  24. 24. The source document for a sale on account.
  25. 25. Sales Invoice
  26. 26. The accounting concept that states: regardless of when cash is received, revenue should be recorded when merchandise is sold.
  27. 27. Realization of Revenue
  28. 28. A business owes the sales taxes collected to this.
  29. 29. State Government
  30. 30. When organizations like schools do not have to pay sales tax, they are said to be this.
  31. 31. Exempt
  32. 32. When recording cash and credit card sales, this is placed in the account title column.
  33. 33. Check Mark
  34. 34. The source document used when recording cash and credit card sales.
  35. 35. Cash Register Tape
  36. 36. The amount to place in the sales tax payable debit column in the transaction receiving cash on account from Ten Company, $1924.76, covering S176 for $1944.00 ($1,800 plus sales tax, $144), less 1% discount and sales tax, Receipt 297.
  37. 37. $1.44
  38. 38. A contra account to sales
  39. 39. Sales Discount
  40. 40. A deduction on the invoice amount is given for this reason.
  41. 41. To encourage early payment
  42. 42. The original copy of a credit memorandum is given to the customer. The second copy is used as the source document. This concept is applied.
  43. 43. Objective Evidence
  44. 44. The normal balance of the Sales Returns and Allowances account.
  45. 45. Debit
  46. 46. The best order to post from the journals.
  47. 47. Sales Journal Purchases Journal General Journal Cash Receipts Journal Cash Payments Journal
  48. 48. A listing of customer accounts, account balances, and total amount due from all customers.
  49. 49. Schedule of Accounts Receivable
  50. 50. Business transactions are stated in numbers that have common values.
  51. 51. UNIT OF MEASUREMENT
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