Day 99

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.

Chapter 10 Folder

  1. Inside of your Part 2 folder, create a new folder titled Chapter 10.  All your tasks completed in Chapter 10 should be stored in this folder.

Notes 10-1

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

Working Together 10-1

  1. Make a copy of this spreadsheet.
  2. Place this file in your Chapter 10 folder.
  3. Rename the file to Lesson 10-1-(Your Initials)
  4. Complete the spreadsheet according to the directions on page 275 or below.

On Your Own 10-1

  1. The sales journal for Parris Supplies is given in the Lesson 10-1 spreadsheet.  Work this problem independently.  Following the instructions on page 275 or below.

Self-Assessment 10-1

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

Application Problem 10-1

  1. Using your Lesson 10-1 spreadsheet, click on the Application Problem 10-1 sheet at the bottom left, and complete the problem as directed on page 289 or below.