1.  DEFINE JOURNALIZING TRANSACTION TERMS  IDENTIFY CONCEPTS RELATED TO JOURNALIZING TRANSACTIONS  RECORD IN A FIVE-COLUMN JOURNAL TRANSACTIONS TO SET UP A BUSINESS BUY INSURANCE FOR CASH AND SUPPLIES ON ACCOUNT AFFECT OWNER’S EQUITY AND RECEIVING CASH ON ACCOUNT  PROVE AD RULE A FIVE-COLUMN JOURNAL AND PROVE CASH Journalizing Transactions CH 4

2. Journals and Journalizing _______________: a form for recording transactions in chronological order ___________________: recording transactions in a journal Most companies will record transactions daily to keep from getting over loaded

3. A 5 Column Journal Using a Journal A journal amount column headed with an account title is called a _______________. Ex: uses 3 special columns: ____________; _____________; ______________. A journal amount column that is not headed with an account title is called a ____________________.

4. 5 Column Journal ______________: information can be verified by comparing the data in the journal with the transaction data. _______________________: transactions are recorded in a journal in order by date.

5. A 5 Column Journal ________________: information for each transaction recorded in a journal. _______________________: the recording of debit and credit parts of a transaction. Assures the debits equal credits.

6. A 5 Column Journal _______________________: a business paper from which information is obtained for a journal entry. Proof that each ______________ has occurred: EX: _____________, sales invoices, __________, calculator tapes and memorandums. ________________________: applied when a source document in prepared for each transaction

7. Checks _______________: a business form ordering a band to pay cash from a bank account. Source document for cash payments: __________

8. Sales Invoices _______________: a form describing the good or services sold, the quantity, and the price. _______________: an invoice used as a source document for recording a sale on account. A sales invoice is prepared in a ______________; original copy to customer business keeps copy

9. Other Sources _____________: a business form giving written acknowledgement for cash received. _____________: a form on which a brief message is written describing a transactions. ___________________: a source document for daily sales. Totaling all the individual __________ for a day

10. Entering Information in Journal An _______________ consists of 4 parts: 1. ___________ 2. ___________ 3. ___________ 4. ___________ Analysis of a transaction is shown in a __________. Steps page 69