Accounting | Topic 3, Lesson 1 Review

A form for recording transactions in chronological order

• Journal

• Journalizing

• Multicolumn Journal

• Entry

• Double-Entry Accounting

Recording transactions in a journal

• Journal

• Journalizing

• Multicolumn Journal

• Entry

• Double-Entry Accounting

Journal with special columns for transactions that occur frequently. Also has general columns for other transactions.

• Journal

• Journalizing

• Multicolumn Journal

• Entry

• Double-Entry Accounting

Information for each transaction recorded in a journal.

• Journal

• Journalizing

• Multicolumn Journal

• Entry

• Double-Entry Accounting

The recording of debit and credit parts of a transaction

• Journal

• Journalizing

• Multicolumn Journal

• Entry

• Double-Entry Accounting

Match the following Source Documents to it's correct abbreviation

• S

• Sales Invoice

• T

• Calculator Tape

• C

• Check

• M

• Memorandum

• R

• Receipt

Match the following Source Documents to it's correct description

• Sales Invoice

• Someone paid us money

• Memorandum

• We bought a good/service from someone and we owe them money

• Receipt

• We sold a good/service to someone and they owe us money

• Check

• We are paying for something

• Calculator Tape

• Recording the amount of cash that came - usually from cash sales

Order the Four Parts of a Journal Entry

• Credit

• Debit

• Date

• Source Document

Transactions can be entered in any order into a journal.

• TRUE

• FALSE

Answer explanation

Transactions are entered in CHRONOLOGICAL ORDER