Soru

Zorluk: OrtaSales Journal and Sales Returns Journal

Match each accounting document or journal summary on the left with its corresponding book of original entry or ledger posting rule on the right.

  • Credit note issued to a customer for returned damaged goodsPrimary source document entered into the Sales Returns Journal
  • Sales invoice issued to a customer for merchandise sold on creditPrimary source document entered into the Sales Journal
  • Monthly summary total transferred from the Sales JournalPosted as a credit entry to the Sales Account in the General Ledger
  • Monthly summary total transferred from the Sales Returns JournalPosted as a debit entry to the Sales Returns Account in the General Ledger

Cevap

Credit note issued to a customer matches Primary source document entered into the Sales Returns Journal. Sales invoice issued to a customer matches Primary source document entered into the Sales Journal. Monthly summary total transferred from the Sales Journal matches Posted as a credit entry to the Sales Account in the General Ledger. Monthly summary total transferred from the Sales Returns Journal matches Posted as a debit entry to the Sales Returns Account in the General Ledger.
Each item accurately pairs the source document or periodic journal total with its corresponding prime entry book or General Ledger double-entry posting rule.

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1
Identify the source document for customer returns
A credit note is issued when customers return goods or receive an allowance, making it the source document for the Sales Returns Journal.
Source documents validate entries made in books of prime entry.
2
Identify the source document for credit sales
A sales invoice is issued when goods are sold on credit, making it the source document for the Sales Journal.
The Sales Journal records only credit sales of trading merchandise.
3
Determine double-entry posting for periodic Sales Journal total
The total of the Sales Journal represents total revenue from credit sales and is credited to the Sales Account in the General Ledger.
Sales represent revenue, which carries a credit balance.
4
Determine double-entry posting for periodic Sales Returns Journal total
The total of the Sales Returns Journal reduces total sales revenue and is debited to the Sales Returns (Returns Inward) Account in the General Ledger.
Sales returns act as a contra-revenue account, carrying a debit balance.

Anahtar Kavram

Books of Original Entry and Ledger Posting Rules for Sales and Sales Returns
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