chapter 11
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Last updated 10:56 AM on 1/23/23
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10 Terms
1
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cash sales slip
DR - Bank
CR - HST Payable
CR - Sales
CR - HST Payable
CR - Sales
2
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Point of Sales Summary
DR - Bank
CR - Sales
CR - Sales
3
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Cash Receipts Daily
DR - Bank
CR - Separately for each A/R
CR - Separately for each A/R
4
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Sales Invoice
DR - A/R\*
CR - Sales
CR - HST Payable
CR - Sales
CR - HST Payable
5
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Cheque Copy
DR - Owner’s Drawings, A/P, Asset, Expense, HST Recoverable\*\*
CR - Bank
CR - Bank
6
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Purchase Invoice
DR - Asset/Expense Account
DR - HST Recoverable
CR - A/P\*\*
DR - HST Recoverable
CR - A/P\*\*
7
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Bank Debit Advice
DR - Bank Charges (Expense)
CR - Bank
CR - Bank
8
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Bank Credit Advice
DR - Bank
CR - Interest Earned
CR - Interest Earned
9
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Purchase Returns & Allowances
Contra Expense Account = CR Balance
\*\*found on COGs section
\*\*found on COGs section
10
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Sales Returns & Allowances
Contra Revenue Account = DR Balance
\*\*found in revenue section of i/s
\*\*found in revenue section of i/s
