Exam 3: Journalizing Transactions

The journal columns used to record receiving cash from the owner as an investment are Cash Debit and Sales Credit.

When services are sold on account, the amount is recorded in the

Select the one term that best fits each definition. -The recording of debit and credit parts of a transaction.

When cash is paid for rent, the amount is recorded in the

Select the one term that best fits each definition. -Recording transactions in a journal.

Select the one term that best fits each definition. -A form describing the goods or services sold the quantity, the price, and the terms of sale.

Select the one term that best fits each definition. -A business paper from which information is obtained for a journal entry.

Select the one term that best fits each definition. -An invoice used as a source document for recording a sale on account.

When an entry in an amount column is an even dollar amount, either "00" or "--" can be entered in the cents column.

Select the one term that best fits each definition. -Information for each transaction recorded in a journal.

When cash is received on account, the amount is recorded in the

When cash is received from sales, the amount is recorded in the

The source document used when supplies are bought on account is a memorandum.

The entry to record payment of cash to the owner as a withdrawal of equity is

In double-entry accounting, each transaction affects at least two accounts.

Select the one term that best fits each definition. -A form for recording transactions in chronological order.

Select the one term that best fits each definition. -A business form ordering a bank to pay cash from a bank account.

The source document for all cash payments is a check.

Double lines are ruled across a journal's amount columns to indicate that the totals have been verified as correct.

Cash is always proved at the end of a month.