Day 93

After studying Chapter 9, you will be able to:

  1. Define accounting terms related to purchases and cash payments for a merchandising business.
  2. Identify accounting concepts and practices related to purchases and cash payments for a merchandising business.
  3. Journalize purchases of merchandise using a purchases journal.
  4. Journalize cash payments and cash discounts using a cash payments journal.
  5. Prepare a petty cash report and journalize the reimbursement of the petty cash fund.
  6. Total, prove, and rule a cash payments journal and start a new cash payments journal page.
  7. Journalize purchases returns and allowances and other transactions using a general journal.

Notes 9-3

  1. Obtain a Notes 9-3 handout from your instructor and record your notes through the presentation.  You can also view the presentation here.  

Working Together 9-3

  1. Make a copy of this spreadsheet.
  2. Place this file in your Chapter 9 folder.
  3. Rename the file to Lesson 9-3-(Your Initials)
  4. Complete the spreadsheet according to the directions on page 253 or below.

On Your Own 9-3

  1. The cash payments journal and the petty cash report for Magic Music are given in the Lesson 9-3 spreadsheet.  Work this problem independently.  Following the instructions on page 253 or below.

Self-Assessment 9-3

  1. Complete this self-assessment for Lesson 9-3.  You can use your textbook and notes to complete this assessment.

Application Problem 9-3 & 9-4

  1. Using your Lesson 9-3 spreadsheet, click on the Application Problem 9-3 and Application Problem 9-4 sheets at the bottom left, and complete the problems as directed on page 261 or below.