After studying Chapter 11, you will be able to:
- Define accounting terms related to posting to ledgers.
- Identify accounting concepts and practices related to posting to ledgers.
- Post separate items from a purchases, cash payments, and general journal to an accounts payable ledger.
- Post separate items from a sales, cash receipts, and general journal to an accounts receivable ledger.
- Post separate items from a cash payment and general journal to a general ledger.
- Post special journal column totals to a general ledger.
- Journalize and post correcting entries affecting customer accounts.
- Obtain a Notes 11-5 handout from your instructor and record your notes through the presentation. You can also view the Notes 11-5 presentation.
Working Together 11-5
- Make a copy of this spreadsheet.
- Place this file in your Chapter 11 folder.
- Rename the file to Lesson 11-5-(Your Initials)
- Complete the spreadsheet according to the directions on page 329 or below.
On Your Own 11-5
- The general journal and accounts receivable ledger accounts for Gentry, Inc., are given in the Lesson 11-5 spreadsheet you created in the Working Together. Work this problem independently using the instructions on page 329 or below.
- Complete this self-assessment for Lesson 11-5. You can use your textbook and notes to complete this assessment.
Application Problem 11-5
- Using your Lesson 11-5 spreadsheet, click on the AP sheets at the bottom left, and complete the problem as directed on page 332-333 or below.