Recording Sales and Cash Receipts . Advanced Accounting Audrey Marshall, Director. Chapter Overview. Recording Sales on Account Using a Sales Journal Recording Cash Receipts Using a Cash Receipts Journal Recording Transactions Using a General Journal Recording International Sales.
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Audrey Marshall, Director
Businesses with a small number of daily transactions can record all entries in one journal.Summary of Special Journals
Sales on Account
Paid with Cash
Realization of Revenue: Recording revenue when merchandise is sold.
Winning Edge, Inc.
Sales Invoice Amount x Sales Discount Rate = Sales Discount
Sales Invoice Amount x Sales Tax Rate = Sales Tax Deduction
Total Invoice Amount - Sales Discount - Sales Tax Reduction = Cash Received