This document provides instructions for journalizing transactions that affect owner's equity and involve receiving or paying cash. It includes examples of receiving cash from sales, selling services on account, paying cash for an expense, receiving cash on account, and paying cash to the owner for personal use. For each transaction, it lists the steps to record the date, debit and credit amounts, account titles, and source document number in the journal.

1. CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
LESSON 3-3LESSON 3-3
Journalizing Transactions
That Affect Owner’s Equity
and Receiving Cash on
Account

2. 2
LESSON 3-3CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
RECEIVED CASH FROM SALESRECEIVED CASH FROM SALES page 67
August 12. Received cash from sales, $295.00. Tape No. 12.
1. Write the date in the Date column.
2. Write the debit amount in the Cash
Debit column.
3. Write the credit amount in the Sales
Credit column. Place a check mark in
the Account Title column. A check mark
is also placed in the Post. Ref. column.
4. Write the source document number in the Doc. No. column.
44 2211 3333 33

3. 3
LESSON 3-3CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
SOLD SERVICES ON ACCOUNTSOLD SERVICES ON ACCOUNT page 68
August 12. Sold services on account to Oakdale School, $350.00. Sales
Invoice No. 1.
1. Write the date in the Date column.
2. Record the debit amount in the General
Debit column. Write the title of the
account in the Account Title column.
3. Write the credit amount in the Sales Credit column.
4. Write the source document number in the Doc. No. column.
4411 3322
22

4. 4
LESSON 3-3CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
PAID CASH FOR AN EXPENSEPAID CASH FOR AN EXPENSE page 69
August 12. Paid cash for rent, $300.00. Check No. 4.
1. Write the date in the Date column.
2. Write the debit amount in the General
Debit column. Write the title of the
account in the Account Title column.
3. Write the credit amount in the Cash
Credit column.
4. Write the source document number in the Doc. No. column.
4411 332222

5. 5
LESSON 3-3CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
RECEIVED CASH ON ACCOUNTRECEIVED CASH ON ACCOUNT page 70
August 18. Received cash on account from Oakdale School, $200.00.
Receipt No. 2.
1. Write the date in the Date column.
2. Write the debit amount in the Cash
Debit column.
3. Record the credit amount in the General
Credit column. Write the title of the
account in the Account Title column.
4. Write the source document number in the Doc. No. column.
11 22
44
33
33

6. 6
LESSON 3-3CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
PAID CASH TO OWNER FORPAID CASH TO OWNER FOR
PERSONAL USEPERSONAL USE page 71
August 18. Paid cash to owner for personal use, $125.00. Check No. 6.
1. Write the date in the Date column.
2. Write the debit amount in the General
Debit column. Write the title of the
account in the Account Title column.
3. Write the credit amount in the Cash
Credit column.
4. Write the source document number in the Doc. No. column.
4411 332222

7. 6
LESSON 3-3CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
PAID CASH TO OWNER FORPAID CASH TO OWNER FOR
PERSONAL USEPERSONAL USE page 71
August 18. Paid cash to owner for personal use, $125.00. Check No. 6.
1. Write the date in the Date column.
2. Write the debit amount in the General
Debit column. Write the title of the
account in the Account Title column.
3. Write the credit amount in the Cash
Credit column.
4. Write the source document number in the Doc. No. column.
4411 332222