Accounting - Ch. 6. - 3
bank debit memo
initiated by the Bank, will decrease the Bank account
Harmonized Sales Tax
taxation responsibilities shared by provinces with federal government by applying this tax
source documents
the accounting department learns of transactions from business papers called
cash receipts daily summary
the business paper that records payments coming in from customers
credit
these amounts are debitted
debit
when recording a journal entry, these amounts are recorded first
Cash sale of product or service
Cash Sales Slip; POS Summary
Payment on account
Cheque Copy
Bank service charge
Debit Memo
Purchase of supplies on account
Purchase Invoice
Sale on account
Sales Invoice
purchase invoice
a business form representing a purchase of goods on account
point of sale (POS) terminal
a computerized sales register for cash sales
compound entry
a journal entry that affects more than two accounts
the book of entry
a journal is sometimes referred to as
journal
a ruled book in which accounting entries are recorded in the order in which they occur