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Lesson 24 1
- 1. CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
LESSON 24-1LESSON 24-1
Recording International
Sales
- 2. 2
LESSON 24-1CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
JOURNALIZING ANJOURNALIZING AN
INTERNATIONAL SALEINTERNATIONAL SALE
11
22
33
44
55 66
page 706
April 1. Recorded international cash sale, $5,000.00. Memorandum 45.
1. Write the date.
2. Place a check mark.
3. Write the source document number.
4. Place a check mark in the Post. Ref. column.
5. Write the sale amount in the Sales Credit column.
6. Write the sale amount in the Cash Debit column.
- 3. 3
LESSON 24-1CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
JOURNALIZING TIME DRAFTSJOURNALIZING TIME DRAFTS
11
22
33
44
55 66
page 707
May 10. Received a 60-day, time draft from Simov Co. for an
international sale, $6,000.00. Time Draft No. 12.
4. Sale amount debit1. Date
2. Account debited
6. Sale amount credit3. Time draft number
5. Account credited
- 4. 4
LESSON 24-1CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
JOURNALIZING CASH RECEIPTSJOURNALIZING CASH RECEIPTS
FROM TIME DRAFTSFROM TIME DRAFTS
11 22 33 44 55
page 708
July 9. Received cash for the value of Time Draft No. 12,
$6,000.00. Receipt No. 465.
5. Amount received debit
4. Amount received credit
3. Receipt number
2. Account title
1. Date
- 5. 5
LESSON 24-1CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
TERMS REVIEWTERMS REVIEW
exports
imports
contract of sale
letter of credit
bill of lading
commercial invoice
draft
sight draft
time draft
trade acceptance
page 709
- 6. 5
LESSON 24-1CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
TERMS REVIEWTERMS REVIEW
exports
imports
contract of sale
letter of credit
bill of lading
commercial invoice
draft
sight draft
time draft
trade acceptance
page 709