Learning Objectives

1. Record cash receipts in a cash receipts journal.
2. Account for cash short or over.
3. Post from the cash receipts journal to subsidiary and general ledgers.
4. Record cash payments in a cash payments journal.
5. Post from the cash payments journal to subsidiary and general ledgers.
6. Demonstrate a knowledge of procedures for a petty cash fund.
7. Demonstrate a knowledge of internal control routines for cash.
8. Write a check, endorse checks, prepare a bank deposit slip, and maintain a checkbook balance.
9. Reconcile the monthly bank statement.
10. Record any adjusting entries required from the bank reconciliation.
11. Define the accounting terms new to this chapter.