CENTURY 21 ACCOUNTING © Thomson/South-Western LESSON 1-2 Journalizing and Posting Purchases and Purchases Returns

CENTURY 21 ACCOUNTING © Thomson/South-Western 2 LESSON 1-2 June 1. Purchased video equipment on account from Western Digital Systems, $ Purchase Invoice No JOURNALIZING PURCHASES ON ACCOUNT 1.Write approval date. 4.Write invoice amount. 3.Record invoice number. 2.Write vendor name. page

CENTURY 21 ACCOUNTING © Thomson/South-Western 3 LESSON Write the date. 5.Write vendor number. 4.Calculate new account balance. 3.Record the credit amount. 2.Write journal page number. POSTING FROM A PURCHASES JOURNAL page

CENTURY 21 ACCOUNTING © Thomson/South-Western 4 LESSON Calculate new account balance. 3.Write column total. 2.Write journal page number. POSTING THE TOTALS OF A PURCHASES JOURNAL page 15 1.Write the date. 5.Write account number

CENTURY 21 ACCOUNTING © Thomson/South-Western 5 LESSON Enter accounts to be debited. 3.Record debit memo number. JOURNALIZING PURCHASES RETURNS AND ALLOWANCES page Write the date. 4.Draw diagonal line. 5.Write debit amount. 7.Write credit amount. 6.Enter account to be credited.

CENTURY 21 ACCOUNTING © Thomson/South-Western 6 LESSON 1-2 TERMS REVIEW departmental accounting system merchandising business posting debit memorandum contra account page 17