Chapter Four 11 Words

double-entry accounting

The recording of debit and credit parts of a transaction

Journal

A form for recording transactions in chronological order

General Journal

A journal with two amount columns in which all kinds of entries can be recorded

A GENERAL JOURNAL Lesson 4-1, page 66

Journalizing

Recording transactions in a journal

Entry

Information for each transaction recorded in a journal

Source Document

A business paper from which information is obtained for a journal entry

Receipt

A business form giving written acknowledgement for cash received

OTHER SOURCE DOCUMENTS Lesson 4-1, page 68

Memo or memorandum

A form on which a brief message is written describing a transaction

OTHER SOURCE DOCUMENTS Lesson 4-1, page 68

Check

A business form ordering a bank to pay cash from a bank account

CHECKS Lesson 4-1, page 67

Invoice

A form describing the goods or services sold, the quantity, and the price

Sales Invoice

An invoice used as a source document for recording a sale on account

SALES INVOICES Lesson 4-1, page 67

RECEIVED CASH FROM OWNER AS AN INVESTMENT August 1. Received cash from owner as an investment, $10,000.00. Receipt No. 1. 2 3 1 4 1. Write the date. 2. Insert your debit. 3. Insert your credit, indent it 2-3 letters. 4. Write the source document number. Lesson 4-1, page 69

STARTING A NEW GENERAL JOURNAL PAGE Lesson 4-4, page 83

STANDARD ACCOUNTING PRACTICES 4 1 6 2 3 5 5 Lesson 4-4, page 84