© South-Western Educational Publishing Lesson 1-2, page 13 JOURNALIZING PURCHASES ON ACCOUNT June 1. Purchased tennis equipment on account from Tennis.

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© South-Western Educational Publishing Lesson 1-2, page 13 JOURNALIZING PURCHASES ON ACCOUNT June 1. Purchased tennis equipment on account from Tennis Warehouse, $ Purchase Invoice No TENNIS WAREHOUSE 976 CENTURY BLVD CUBLIN, CA SOLD TO MasterSport 4750 Appian Way San Jose, CA TERMS 2/10, n30 DATE May 29, 20-- OUR ORDER NO CUSTOMER’ ORDER NO. 336 SHIP VIA TRUCK GRX1 RG TAPE Graphite racquet Ready-Grip Tape Total Invoice ea. 10 dz. STOCK NO.DESCRIPTIONUNIT PRICEQUANITY TOTAL AMOUNT TENNIS DEPT. Approved D.P. 6/1/ Write approval date. 5.Write invoice amount. 4.Write invoice amount. 3.Record invoice number. 2.Write vendor name.

© South-Western Educational Publishing Lesson 1-2, page 14 POSTING FROM A PURCHASES JOURNAL Write the date. 5.Write vendor number. 4.Calculate new account balance. 3.Record credit amount. 2.Write journal page number.

© South-Western Educational Publishing Lesson 1-2, page 15 POSTING THE TOTALS OF A PURCHASES JOURNAL Write the date. 5.Write account number (in parentheses). 4.Calculate new account balance. 3.Write column total. 2.Write journal page number.

© South-Western Educational Publishing Lesson 1-2, page 15 PURCHASES JOURNAL WITH POSTING COMPLETED

© South-Western Educational Publishing Lesson 1-2, page 17 JOURNALIZING A DEBIT MEMORANDUM 1.Write the date. 5.Write the amount. 4.Write the amount. 3.Record debit memo number. 2.Enter vendor name June 3. Returned tennis equipment to Key Tennis Company, $54.50, from Purchase Invoice No 333. Debit Memorandum No

© South-Western Educational Publishing Lesson 1-2, page 18 POSTING FROM A PURCHASES RETURNS AND ALLOWANCES JOURNAL

© South-Western Educational Publishing T ERMS REVIEW departmental accounting system merchandising business posting debit memorandum contra account contra balance Lesson 1-2, page 19