Chp 3 Accounting - Journalizing Transactions

Information for each transaction recorded in a journal

• sales invoice

• entry

• journal

• invoice

A form on which a brief message is written to describe a transaction

• check

• receipt

• memorandum

• source document

A business paper from which information is obtained for a journal entry

• source document

• journal

• sales invoice

• check

A business form giving written acknowledgement for cash received

• sales invoice

• invoice

• check

• receipt

A form describing the goods or services sold, the quantity, the price, and the terms of sale

• sales invoice

• invoice

• receipt

• journal

T/F

The source document for all cash payments is a check

• True

• False

T/F

The accounting concept Unit of Measurement is being applied when a source document is prepared for each transaction

• True

• False

T/F

A general journal page is complete when there is insufficient space to record any more entries

• True

• False

T/F

A transaction recorded in a journal is not considered a permanent record

• True

• False

T/F

A complete journal entry consists of the date, the debit amount, the credit amount and a source document

• True

• False