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Cash Receipts Journal
Cash Payments Journal
Sales Journal
Purchases Journal
General Journal
Example of journal entries for December
Another approach to journalizing your business trasactions is to use a Journal Entry Transmisttal Form. All journals are combined into one. Using this form is a good choice for VE students with no accounting experience.
There is a blank template, a sample of a journal entry form and a video tutorial on how to use it for common VE bsuiness transactions.
The transmittal form is designed to work with the VB10 General Ledger, but would work well as a source document of any accounting software package.
Journal Entry Transmittal Template
Journal Entry Transmittal Example
After completing the spreadsheet, the same data can be used month after month with just a few adjustments in sales, interest on the loan.
Video tutorial for Journal Entry Transmittal Sheet
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Journal Tutorial |
Cash Receipts Transactions |
Cash Payments Transactions |
Charge Sales Transactions |
Purchases on Account Transactions |
General Journal |
Chart of Accounts
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1. Recording the debit and credit part of a business transaction is called?
Posting
Double Entry Accounting
Proving the ledger
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2. All business transactions should first be recorded in?
Journal
Ledger
Chart of Accounts
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3. The kind of journals described in this lesson are?
Combination Journals
Specialized Journals
Progressive Journals
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4. A purchases journal is used to?
record all cash payments
record all cash receipts
record purchases of merchandise on account
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