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.
- Obtain a Notes 10-3 handout from your instructor and record your notes through the presentation. You can also view the Notes 10-3 presentation.
Working Together 10-3
- Make a copy of this spreadsheet.
- Place this file in your Chapter 10 folder.
- Rename the file to Lesson 10-3-(Your Initials)
- Complete the spreadsheet according to the directions on page 287 or below.
On Your Own 10-3
- 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.
- Complete this self-assessment for Lesson 10-3. You can use your textbook and notes to complete this assessment.
Application Problem 10-3
- 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.