After completing Lesson 5-3, you will be able to:
- Define accounting terms related to using a checking account.
- Identify accounting concepts and practices related to using a checking account.
- Prepare business papers related to using a checking account.
- Journalize dishonored checks and electronic banking transactions.
- Obtain a Notes 5-3 handout from your instructor and record your notes through the presentation. You can also view the presentation here.
Working Together 5-3
- Make a copy of this spreadsheet.
- Place this file in your Chapter 5 folder.
- Rename the file to Lesson 5-3-(Your Initials)
- Complete the spreadsheet according to the directions on page 133 or below.
On Your Own 5-3
- Type the answers to this problem in the Working Papers. Work this problem independently. Follow the instructions on page 133 or below.
- Complete this self-assessment for Lesson 5-3. You can use your textbook and notes to complete this assessment.
Lesson 5-3 Assignment
- Using your Lesson 5-3 spreadsheet, click on the Application Problem 5-3 sheet at the bottom left, and complete the problem as directed on page 141 or below.
The following errors were discovered after the incorrect entries were already journalized and posted.