Examkin

Soru

Zorluk: KolaySales Journal and Sales Returns Journal

Match each accounting item relating to sales and sales returns with its correct book of original entry or source document.

  • Credit sale of trading inventorySales Journal
  • Return of merchandise by a credit customerSales Returns Journal
  • Primary source document for credit salesSales Invoice
  • Primary source document for sales returnsCredit Note

Cevap

Credit sales of trading inventory match with the Sales Journal; returns of merchandise by credit customers match with the Sales Returns Journal; the primary source document for credit sales is the Sales Invoice; and the primary source document for sales returns is the Credit Note.
Credit sales of goods are recorded in the Sales Journal supported by a Sales Invoice. Conversely, goods returned by credit customers (returns inward) are entered in the Sales Returns Journal supported by a Credit Note.

Adım Adım Çözüm

1
Identify the appropriate journal of original entry for credit transactions.
Credit sales of stock belong in the Sales Journal, and credit returns from customers belong in the Sales Returns Journal.
Specialized journals record specific types of credit transactions prior to posting to the ledger.
2
Determine the corresponding source documents for each journal.
Sales Invoices substantiate entries in the Sales Journal, whereas Credit Notes substantiate entries in the Sales Returns Journal.
Source documents provide documentary evidence required to enter transactions into day books.

Anahtar Kavram

Books of Original Entry and Source Documents for Sales and Sales Returns
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Konular

Sales Journal and Sales Returns Journal

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