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LESSON 2-1
Departmental Sales on
Account and Sales
Returns and Allowances
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
Chapter 2 Objectives
Recording Departmental Sales and Cash
Receipts
2
After studying Chapter 2, you will be able to:
 Define terms related to departmental sales and cash
receipts.
 Identify concepts and practices related to
departmental sales and cash receipts.
 Journalize and post departmental sales on account
and sales returns and allowances.
 Journalize and post departmental cash receipts.
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
LESSON 1-2
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Recording Departmental Sales and Cash
Receipts
 credit memorandum: the source document prepared
by the vendor showing the amount deducted for
returns and allowances
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
LESSON 2-1
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JOURNALIZING SALES ON ACCOUNT
page 37
June 1. Sold audio equipment on account to Kim Electronics, $280.00,
plus sales tax, $23.10; total, $303.10. Sales Invoice No. 101.
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1. Write the date.
2. Write the customer name.
3. Write the sales invoice number.
4. Write the total invoice amount.
5. Write the sales tax payable amount.
6. Write the sales amount.
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
LESSON 2-1
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POSTING FROM A SALES JOURNAL TO
THE ACCOUNTS RECEIVABLE LEDGER
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page 38
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1. Write date.
2. Write sales journal page.
3. Enter amount in Debit column.
4. Enter account balance.
5. Write customer number in Post. Ref. column of sales journal.
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
LESSON 2-1
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POSTING FROM A SALES JOURNAL TO
A GENERAL LEDGER ACCOUNT
page 39
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1. Write date.
2. Write sales journal page.
3. Enter debit amount.
4. Enter account balance.
5. Write general ledger account
number in parentheses.
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
LESSON 2-1
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JOURNALIZING SALES RETURNS AND
ALLOWANCES
page 40
June 5. Granted credit to Kim Electronics for audio equipment returned, $130, plus
sales tax, $10.73, from Sales Invoice No. 101; total, $140.73. Credit Memo No. 43.
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Write date.
Enter accounts to be debited.
Record credit memo number.
Write debit amounts.
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5. Enter accounts to be credited.
6. Draw diagonal line.
7. Write credit amount.
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
LESSON 2-1
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POSTING FROM GENERAL JOURNAL
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page 41
1. Date
2. Journal page
number
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3. Debit amounts
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4. Credit amount
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5. Account numbers
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CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
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LESSON 2-1
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DEFINE TERM REVIEW
In Quizlet
page 43
Create: Chapter 2 AdvAcc (then SAVE)
 credit memorandum
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
LESSON 2-1
10
Exit Ticket for today:
Audit Your Understanding 2-1
In a Word Document, SaveAS: Chapter2-1AYUYourName
And drop in my Inbox today!
1. What is a tax-exempt customer? Given an example
2. For what purpose is a credit memorandum issued?
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
LESSON 2-1
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Complete the following assignments for
Chapter 2-1 today
 Define Term Review on page 43.
 Answer Audit Your Understanding questions on page
43.
 Complete Work Together 2-1 on Aplia – page 43
 Complete On Your Own 2-1 on Aplia – page 43
 Complete Application Problem 2-1 on Aplia – page
52.
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
LESSON 2-1