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cash sales slip
DR - Bank
CR - HST Payable
CR - Sales
Point of Sales Summary
DR - Bank
CR - Sales
Cash Receipts Daily
DR - Bank
CR - Separately for each A/R
Sales Invoice
DR - A/R*
CR - Sales
CR - HST Payable
Cheque Copy
DR - Owner’s Drawings, A/P, Asset, Expense, HST Recoverable**
CR - Bank
Purchase Invoice
DR - Asset/Expense Account
DR - HST Recoverable
CR - A/P**
Bank Debit Advice
DR - Bank Charges (Expense)
CR - Bank
Bank Credit Advice
DR - Bank
CR - Interest Earned
Purchase Returns & Allowances
Contra Expense Account = CR Balance
**found on COGs section
Sales Returns & Allowances
Contra Revenue Account = DR Balance
**found in revenue section of i/s
Note
Flashcard