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Chapter 9
Accounting Information Systems
Sales Journal
Page 1
Date
Account
Invoice # PR
Accounts
Receivable/Sales
(DR/CR)
COGS/
Inventory
(DR/CR)
Jan 5 Joe Blog
5125
1,235
1,100
Jan 16 Furniture Retailers
5126
956
850
Jan 31 Total
$2,191
$1,950
(110/400)
(500/120)
Account:
Accounts Receivable
GL. No.
110
Date
Description
PR
DR
CR
Balance
2016
Jan 31
SJ1
2,191
2,191 DR
Account:
Joe Blog
Date
PR
DR
CR
Balance
2016
Jan 5
SJ1
1,235
1,235 DR
Account:
Furniture Retailers
Date
PR
DR
CR
Balance
2016
Jan 16
SJ1
956
956 DR
________________
figure 9.6
The total of $2,191 is posted to the accounts receivable control account and to sales revenue. The
total of $1,950 is posted to cost of goods sold and inventory.The total of the two customer accounts
($1,235 and $956) is equal to the balance of the accounts receivable control account.
The Cash Receipts Journal
The cash receipts journal records all receipts of cash. Typical reasons for the receipt of cash are
listed in the column headings (Accounts Receivable, Sales and Bank Loan) which vary depending
on the company. A column titled Other is used to record cash receipts that do not fall under one of
the frequently used categories. Any amount recorded in the Other column is immediately posted
to the appropriate general ledger account.The Sales Discount column is used if customers make a
payment within the discount period specified by the company.
Cash
(DR)
Sales
Discount
(DR)
Accounts
Receivable
(CR)
Sales
(CR)
Bank Loan
(CR)
Other
(CR)
COGS/
Inventory
(DR/CR)
figure 9.7
2
1
3
4
