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CHAPTER 6 THE JOURNAL AND SOURCE DOCUMENTS

CHAPTER 6 THE JOURNAL AND SOURCE DOCUMENTS. Source Documents. Business papers that show the nature of a transaction and provide all the information necessary to account for the transaction properly. Example #1 ~ Cash Sales Slip. Example #1 ~ Cash Sales Slip. customer.

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CHAPTER 6 THE JOURNAL AND SOURCE DOCUMENTS

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  1. CHAPTER 6 THE JOURNAL AND SOURCE DOCUMENTS

  2. Source Documents Business papers that show the nature of a transaction and provide all the information necessary to account for the transaction properly

  3. Example #1 ~ Cash Sales Slip

  4. Example #1 ~ Cash Sales Slip customer Nature of the transaction Pre-numbered slip to ensure none are lost

  5. Example #1 ~ Cash Sales Slip Journal Entry for a Cash Sales Slip: DR CR Bank 35.90 Sales 35.90 Total for entry

  6. Example #2 ~ Sales Invoice

  7. Example #2 ~ Sales Invoice Customer to be charged When payment is due Nature of transaction Preset serial number

  8. Example #2 ~ Sales Invoice Journal Entry for a Sales Invoice: DR CR A/R – S.&S. Boatworks 835.70 Sales 835.70 Total for entry

  9. Example #3 ~ Point of Sale Summaries

  10. Example #3 ~ Point of Sale Summaries A till printout for Visa, Mastercard and Debit card transactions for one month

  11. Example #3 ~ Point of Sale Summaries Journal Entry for POS Summaries DR CR Bank 734.18 Sales 734.18 Total for entry

  12. Example # 4 ~ Purchase Invoice

  13. Example # 4 ~ Purchase Invoice Name of vendor credited in Account Payable Shows how long Masthead Marine has to make payment General Engineering’s Invoice number

  14. Example # 4 ~ Purchase Invoice Journal Entry for Purchase Invoice: DR CR Equipment Repairs Expense 241.50 A/P – General Engineering 241.50 Total used for entry

  15. Example #5 ~ Cheque Copy

  16. Example #5 ~ Cheque Copy Reference number Who the cheque is for Owner’s Signature Details of payment Reference number is repeated on tear off portion

  17. Example #5 ~ Cheque Copy Journal Entry for a Cheque Copy: DR CR A/P – Streling Spars 1802.90 Bank 1802.90 Total for entry = cheque total

  18. Example #6 ~ Cash Receipts Daily Summary

  19. Example #6 ~ Cash Receipts Daily Summary

  20. Example #6 ~ Cash Receipts Daily Summary Journal Entry for a Cash Receipts Summary: DR CR Bank 2142.24 A/R – A. Baldwin 375.00 A/R – F Perri 965.52 A/R – Pier 10 Marina 801.72

  21. Example #7 ~ Bank Advice

  22. Example #7 ~ Bank Advice Tells whether the account has been debited or credited Date of entry Explanation

  23. Example #7 ~ Bank Debit Advice A Bank Debit Advice advises the company that an expense has been debited. Journal entry for a Bank Debit Advice: DR CR Bank Charges and Interest 113.50 Bank 113.50

  24. Example # 8 ~ Bank Credit Advice If a company generates revenue from interest then a Bank Credit advice is used to notify them of the increase in their equity. Sample Journal Entry for a Bank Credit Advice: DR CR Bank 43.76 Interest Earned 43.76

  25. SUMMARY

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