Accounting 2
Lesson Plans

Strand 3

Students will identify and describe source documents and journal entries related to sales and cash receipt transactions.

• Account --Recording Sales/Cash Recpts w/ Spec. Journals
  Introduction of a sales journal and using the sales journal to journalize sales on account, then posting from the sales journal to A/R ledgers and General ledgers. Introduction of journalizing cash receipts from cash and credit card sales on a cash receipts journal then posting from the cash receipts journal to A/R ledgers and General ledgers. Introduction of what sales discounts are and how to calculate the discount, as well as journalizing cash receipts on account with a sales discount and posting to ledgers. Introduction of journalizing sales returns and allowances on a general journal and posting to the A/R ledger and General ledger. Review of preparing a schedule of A/R.. Summarize the order of posting from all of the special journals (Sales journal, Purchases journal, General journal, Cash receipts journal, and Cash payments journal)
• Account -Recording Purchases/Cash Pmts - Spec. Journals
  Review of general ledgers, introduction of a corporation and how it is set up. Introduction of special journals - Purchases Journal, Sales Journal, Cash Payment Journal, Cash Receipt Journal. Introduction of journalizing entries for purchasing on account using a purchases journal and posting from a purchase journal to an A/P ledger and General ledger. Introduction of journalizing entries for cash payments using a cash payments journal and posting from a cash payments journal to an A/P ledger and a General ledger. Review transactions used on a General Journal such as: journalizing purchase returns and allowances, buying supplies on account then posting the entries from the general journal to each separate general ledger account. Review of preparing a schedule of A/P.

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