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College Accounting
John Price, University of North Texas
M. David Haddock, Chattanooga State Technical Comm. College
Horace Brock, University of North Texas
Connie Hahn, Southern Alberta Institute of Technology
Traven Reed, Canadore College
Accounting for Sales, Accounts Receivable, and Cash Receipts

Learning Objectives

Record credit sales in a sales journal.

Post from the sales journal to the general ledger accounts.

Post from the sales journal to the customers' accounts in the accounts receivable subsidiary ledger.

Record sales returns and allowances in the general journal.

Post sales returns and allowances from the general journal to the general ledger and the accounts receivable subsidiary ledger.

Record cash receipts in a cash receipts journal.

Account for cash short or over.

Post from the cash receipts journal to subsidiary and general ledgers.

Prepare a schedule of accounts receivable.

Compute trade discounts.




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