Chapter 9 Sales & Purchases

REVIEW:

  1. When a sale is made on account using a perpetual inventory system, which extra 2 accounts are affected? How? Why?
  2. When a customer returns merchandise for a purchase they made on account using a perpetual inventory system, which extra 2 accounts are affected? How? Why?

GOAL: Before you leave today you will know how to use a general journal and the perpetual inventory system to record purchase and purchase-related transactions.

  1. Log in to cengagenow
  2. Click Study Tools
  3. Click Adaptive Study Plans
  4. Next to Chapter 9 – Sales & Purchases click Resume Studying
  5. Under Objectives & Study Materials click 7. Using a general journal and the perpetual inventory system, record purchase and purchase-related transactions.
  6. Under Study Materials click  eBook – 9.7: Purchase Transactions  follow along while watching this video
  7. WATCH: Show Me How: Using a general journal and the perpetual inventory system, record purchase and purchase-related transactions.  
  8. SHOW ME:
    1. Practice!

Chapter 9 Sales & Purchases

REVIEW:

  1. What accounts are affected using the Perpetual Inventory System that are not use for the Periodic Inventory System and vice versa?

GOAL: Before you leave today you will know how to record transactions in a sales journal and post to the general ledger and accounts receivable ledger.

  1. Log in to cengagenow
  2. Click Study Tools
  3. Click Adaptive Study Plans
  4. Next to Chapter 9 – Sales & Purchases click Resume Studying
  5. Under Objectives & Study Materials click 8. Record transactions in a sales journal and post to the general ledger and accounts receivable ledger.
  6. Under Study Materials click  eBook – 9.8: The Sales Journal  follow along while watching this video
  7. WATCH: Show Me How: Record transactions in a sales journal and post to the general ledger and accounts receivable ledger. 
  8. SHOW ME:
  9. WORK AHEAD!!!