Summary of source documents and related journal entries – Flashcards
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Cash Sales Slip
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Name the source document required for sale of goods or services for cash.
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Sales invoice
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Name the source document required for a sale of goods or services on account.
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Purchase Invoice
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Name the source document required for a purchase of goods or services on account.
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Cheque Copy
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Name the source document required for paying an account payable, cash purchase of an asset, cash payment for an expense, or owner draws out money for personal use.
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Cash receipts daily summary
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Name the source document required for the cheques received from customers on account.
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Bank Debit Advice
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Name the source document required for a bank account decrease.
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Bank Credit Advice
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Name the source document required for a bank account increase.
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Bank
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This account is debited in the journal entry of a cash sales slip.
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Accounts Receivable
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This account is debited in the journal entry of a sales invoice.
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An expense account or an asset account
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This account is debited in the journal entry of a purchase invoice.
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A liability account, an asset account, an expense account, or the drawings account.
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This account is debited in the journal entry of a cheque copy.
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Bank
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This account is debited in the journal entry of a cash receipts daily summary.
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interest expense or other account
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This account is debited in the journal entry of a bank debit advice.
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Bank
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This account is debited in the journal entry of a bank credit advice.
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Sales or Revenue
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This account is credited in the journal entry of a cash sales slip.
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Sales or Revenue
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This account is credited in the journal entry of a sales invoice.
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accounts payable
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This account is credited in the journal entry of a purchase invoice.
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bank
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This account is credited in the journal entry of a cheque copy.
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accounts receivable
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This account is credited in the journal entry of a cash receipts daily summary.
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bank
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This account is credited in the journal entry of a bank debit advice.
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interest earned or other account
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This account is credited in the journal entry of a bank credit advice.
