How To Enter Accounting Journal Entries In Special Journals
Here we study how to enter Accounting Journal Entries in Special Journals . Every Business Transaction starts with Original Documents. So, Business Transactions related to Purchases and Sales require an invoice or voucher to enter or record in Purchases And Sales Journals or Books. Business Transactions related to Goods that may be returned by buyer / customer to seller or by seller to supplier are recorded or entered in Sales Return and Purchase Returns Journals or books of the business. 1. Purchase Journal or Book When an entrepreneur places an order for goods, he / she needs, the supplier or seller of the goods makes out an invoice and send one copy to the buyer who placed the order. Supplier keeps one copy with himself / herself for the entering the Accounting Journal Entries in his / her Sales Journal or Book. The supplier then, sends two copies of the invoice to store department of the company. 2. Sales Journal or Book When an bus...