BuyFindarrow_forward

College Accounting (Book Only): A ...

13th Edition
Scott + 1 other
ISBN: 9781337280570

Solutions

Chapter
Section
BuyFindarrow_forward

College Accounting (Book Only): A ...

13th Edition
Scott + 1 other
ISBN: 9781337280570
Textbook Problem

Describe the posting procedures to the general ledger and the rules for totaling and ruling the following.

  1. a. Sales journal
  2. b. Purchases journal

a.

To determine

Explain the procedures of posting the transaction to the general ledger and the rules for totaling and ruling the sales journal.

Explanation

Sales Journal: Sales journal is one form of special journal book that records all the sales transactions that are sold to customers on credit.

Procedures of posting the transaction from sales ledger to the general ledger and the totaling of sales journal are as follows:

  • In the general ledger, debit accounts receivable and credit sales...

b.

To determine

Explain the procedures of posting the transaction to the general ledger and the rules for totaling and ruling the Purchases journal

Still sussing out bartleby?

Check out a sample textbook solution.

See a sample solution

The Solution to Your Study Problems

Bartleby provides explanations to thousands of textbook problems written by our experts, many with advanced degrees!

Get Started

Additional Business Solutions

Find more solutions based on key concepts

Show solutions add

Would it ever be rational for a firm to borrow money in order to pay cash dividends? Explain.

Fundamentals of Financial Management, Concise Edition (with Thomson ONE - Business School Edition, 1 term (6 months) Printed Access Card) (MindTap Course List)

What is the role of accounting in business?

Corporate Financial Accounting