LESSON 1 2 Journalizing and Posting Purchases and

LESSON 1 -2 Journalizing and Posting Purchases and Purchases Returns CENTURY 21 ACCOUNTING © Thomson/South-Western LESSON 1 -2

2 JOURNALIZING PURCHASES ON ACCOUNT page 13 June 1. Purchased video equipment on account from Western Digital Systems, $845. 00. Purchase Invoice No. 336. 2 3 1. 2. 3. 4. Write approval date. Write vendor name. Record invoice number. Write invoice amount. 4 1 1 2 3 4 CENTURY 21 ACCOUNTING © Thomson/South-Western 4 LESSON 1 -2

3 POSTING FROM A PURCHASES JOURNAL page 14 5 1 2 3 4 1. Write the date. 2. Write journal page number. 3. Record the credit amount. CENTURY 21 ACCOUNTING © Thomson/South-Western 4. Calculate new account balance. 5. Write vendor number. LESSON 1 -2

4 POSTING THE TOTALS OF A PURCHASES JOURNAL page 15 2 3 1 5 4 1. Write the date. 2. Write journal page number. 3. Write column total. 4. Calculate new account balance. 5. Write account number. CENTURY 21 ACCOUNTING © Thomson/South-Western LESSON 1 -2

5 JOURNALIZING PURCHASES RETURNS AND ALLOWANCES page 16 1. Write the date. 2. Enter accounts to be debited. 2 3 3. Record debit memo number. 1 4. Draw diagonal line. 5. Write debit amount. 6. Enter account to be credited. 7. Write credit amount. 5 7 2 1 6 3 CENTURY 21 ACCOUNTING © Thomson/South-Western 4 LESSON 1 -2

6 TERMS REVIEW n n n page 17 departmental accounting system merchandising business posting debit memorandum contra account CENTURY 21 ACCOUNTING © Thomson/South-Western LESSON 1 -2