Stone Fox Vocabulary

petty cash voucher

a form used to record the payments made from a petty cash fund

cash payments journal

a special journal used to record and post transactions involving the receipt of cash

cash receipts journal

a special journal used to record and post transactions involving the receipt of cash

petty cash fund

a special-purpose fund used to handle payments involving small amounts of money

Bank reconciliation statement

a statement that accounts for all differences between the balance on the bank statement and thebook balance of cash

promissory note

a written promise to pay a specified amount of money on a specific date

Does a bank reconciliation statement have a debit and a credit column?

No, it has a column for listing subtotals and a column for listing totals.

Where do I record an additional cash investment by the owner?

Cash receipts journal

The Petty Cash Fund has a debit or a credit balance?

Debit

If I receive a payment on a Note, I book it in the Cash Receipts Journal as a debit to ___________ and a credit to ___________

Debit to Cash Credit to notes receivable Credit to interest earned

Checks issued by a firm and entered in its records that have not been paid by the bank are called ________ checks

cancelled

outstanding checks

checks that have been recorded in the cash payments journal but have not yet been paid by the bank

To transfer ownership of a check from one party to another, it is necessary to ________ the check.

endorse