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College Accounting, Chapters 1-27

23rd Edition
HEINTZ + 1 other
ISBN: 9781337794756

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Chapter
Section
BuyFindarrow_forward

College Accounting, Chapters 1-27

23rd Edition
HEINTZ + 1 other
ISBN: 9781337794756
Textbook Problem

What steps are followed in posting from the sales journal to the accounts receivable ledger?

To determine

Indicate the steps followed in posting from the sales journal to the accounts receivable ledger.

Explanation

Sales Journal

A journal is a book of original entry where all journal entries are recorded on the date of their occurrence in a chronological order.

Sales journal is one form of special journal book, which records sales transactions that are sold to customers on credit.

Posting from the sales journal to the accounts receivable ledger:

In the accounts receivable ledger account:

Step 1: Enter the date of the transaction in the Date column.

Step 2: Enter the debit amount and the credit amount in the Debit and Credit columns respectively...

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