© 2000 South-Western Educational Publishing A FIVE-COLUMN JOURNAL Using a Journal To help save time and become more efficient, businesses use a Special.

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© 2000 South-Western Educational Publishing A FIVE-COLUMN JOURNAL Using a Journal To help save time and become more efficient, businesses use a Special Amount Column headed with an account title. These columns are used for frequently occurring transactions. When the transaction is not headed with an account title it is called General Amount Column.

© 2000 South-Western Educational Publishing Journaling Accuracy The Journal includes Debit and Credit parts of the transactions in a single place. Chronological Transactions are recorded in a Journal by their Date. Double Entry Accounting Information for each transaction recorded in a journal is called an entry. The recording of debit and credit parts of a transaction is called double entry accounting. Source Documents - Check - Invoice - Sales Invoice - Receipts - Memorandums

© 2000 South-Western Educational Publishing CHECKS Lesson 4-1, page 67

© 2000 South-Western Educational Publishing SALES INVOICES Lesson 4-1, page 67

© 2000 South-Western Educational Publishing OTHER SOURCE DOCUMENTS Lesson 4-1, page 68

© 2000 South-Western Educational Publishing RECEIVED CASH FROM OWNER AS AN INVESTMENT Lesson 4-1, page 69 August 1. Received cash from owner as an investment, $10, Receipt No. 1.

© 2000 South-Western Educational Publishing RECEIVED CASH FROM OWNER AS AN INVESTMENT Lesson 4-1, page 69 August 1. Received cash from owner as an investment, $10, Receipt No Which accounts are affected? Cash Barbara Treviño, Capital 4.How is each amount entered in the accounts? Assets increase on the debit side. Owner’s equity accounts increase on the credit side. 3.How is each classification changed? Assets are increased. Owner’s equity is increased. 2.How is each account classified? Cash is an asset account. Barbara Treviño, Capital is an owner’s equity account. Barbara Treviño, Capital Cash Debit Normal Balance Credit Normal Balance  10, 

© 2000 South-Western Educational Publishing RECEIVED CASH FROM OWNER AS AN INVESTMENT Lesson 4-1, page 69 August 1. Received cash from owner as an investment, $10, Receipt No Write the date Write the source document number. 2.Debit Cash. 3.Credit Barbara Treviño, Capital. 3 3

© 2000 South-Western Educational Publishing 3.Credit Cash. PAID CASH FOR SUPPLIES Lesson 4-1, page Write the date. 4.Write the source document number. 2.Debit Supplies