Chapter 10

Journalizing Sales and Cash Receipts Using Special Journals

This chapters objectives are:

• • 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