Day 101

After studying Chapter 10, you will be able to:

  • Define accounting terms related to sales and cash receipts for a merchandising business.
  • Identify accounting concepts and practices related to sales and cash receipts for a merchandising business.
  • Journalize sales on account using a sales journal.
  • Journalize cash receipts using a cash receipts journal.
  • Record sales returns and allowances using a general journal. 

Notes 10-3

  1. Obtain a Notes 10-3 handout from your instructor and record your notes through the presentation.  You can also view the presentation here.

Working Together 10-3

  1. Make a copy of this spreadsheet.
  2. Place this file in your Chapter 10 folder.
  3. Rename the file to Lesson 10-3-(Your Initials)
  4. Complete the spreadsheet according to the directions on page 287 or below.

On Your Own 10-3

  1. The general journal for City Lighting is given in the Lesson 10-3 spreadsheet.  Work this problem independently.  Following the instructions on page 287 or below.

Self-Assessment 10-3

  1. Complete this self-assessment for Lesson 10-3.  You can use your textbook and notes to complete this assessment. 

Application Problem 10-3

  1. Using your Lesson 10-3 spreadsheet, click on the Application Problem 10-3 sheet at the bottom left, and complete the problem as directed on page 290 or below.