© 2000 South-Western© 2000 South-WesternEducational PublishingEducational Publishing
RECEIVED CASH FROM SALESRECEIVED CASH FROM SALES
Lesson 4-3, page 76Lesson 4-3, page 76
August 12. Received cash from sales, $325.00. Tape No. 12.
1. Which accounts are affected?
Cash
Sales
4. How is each amount entered in the accounts?
Assets increase on the debit side.
Revenues increase on the credit side.
3. How is each classification changed?
Assets are increased.
Revenues are increased.
2. How is each account classified?
Cash is as asset account.
Sales is as revenue account.
Sales
Cash
DebitNormal Balance
325.00
325.00
CreditNormal Balance
© 2000 South-Western© 2000 South-WesternEducational PublishingEducational Publishing
RECEIVED CASH FROM SALES RECEIVED CASH FROM SALES (continued)(continued)
Lesson 4-3, page 76Lesson 4-3, page 76
August 12. Received cash from sales, $325.00. Tape No. 12.
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24
1. Write the date.
2. Debit Cash.
3. Credit Sales.
4. Write the source document number.
3
© 2000 South-Western© 2000 South-WesternEducational PublishingEducational Publishing
SOLD SERVICES ON ACCOUNTSOLD SERVICES ON ACCOUNT
Lesson 4-3, page 77Lesson 4-3, page 77
August 12. Sold services on account to Kids Time, $200.00. Sales Invoice No. 1.
1. Which accounts are affected?
Accounts Receivable—Kids Time
Sales
4. How is each amount entered in the accounts?
Assets increase on the debit side.
Revenues increase on the credit side.
3. How is each classification changed?
Assets are increased.
Revenues are increased.
2. How is each account classified?
Accounts Receivable—Kids Time is an asset account.
Sales is as revenue account.
Sales
Accounts Rec.—Kids Time
DebitNormal Balance
200.00
200.00
CreditNormal Balance
© 2000 South-Western© 2000 South-WesternEducational PublishingEducational Publishing
SOLD SERVICES ON ACCOUNT SOLD SERVICES ON ACCOUNT (continued)(continued)
Lesson 4-3, page 77Lesson 4-3, page 77
August 12. Sold services on account to Kids Time, $200.00. Sales Invoice No. 1.
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34
1. Write the date.
2. Debit Cash.
3. Credit Sales.
4. Write the source document number.
2
© 2000 South-Western© 2000 South-WesternEducational PublishingEducational Publishing
PAID CASH FOR AN EXPENSEPAID CASH FOR AN EXPENSE
Lesson 4-3, page 78Lesson 4-3, page 78
August 12. Paid cash for rent, $250.00. Check No. 4.
1. Which accounts are affected?
Rent Expense
Cash
4. How is each amount entered in the accounts?
Expenses increase on the debit side.
Assets decrease on the credit side.
3. How is each classification changed?
Expenses are increased.
Assets are decreased.
2. How is each account classified?
Rent Expense is an expense account.
Cash is an asset account. Cash
Rent Expense
DebitNormal Balance
250.00
250.00DebitNormal Balance
© 2000 South-Western© 2000 South-WesternEducational PublishingEducational Publishing
PAID CASH FOR AN EXPENSE PAID CASH FOR AN EXPENSE (continued)(continued)
Lesson 4-3, page 78Lesson 4-3, page 78
August 12. Paid cash for rent, $250.00. Check No. 4.
13
4
1. Write the date.
2. Debit Rent Expense.
3. Credit Cash.
4. Write the source document number.
2
© 2000 South-Western© 2000 South-WesternEducational PublishingEducational Publishing
RECEIVED CASH ON ACCOUNTRECEIVED CASH ON ACCOUNT
Lesson 4-3, page 79Lesson 4-3, page 79
August 12. Received cash on account from Kids Time, $100.00. Receipt No. 2.
1. Which accounts are affected?
Cash
Accounts Receivable—Kids Time
4. How is each amount entered in the accounts?
Assets increase on the debit side.
Assets decrease on the credit side.
3. How is each classification changed?
Assets are increased.
Assets are decreased.
2. How is each account classified?
Cash is an asset account.
Accounts Rec.—Kids Time is an asset account.
Accounts Rec.—Kids Time
Cash
DebitNormal Balance
100.00
100.00
DebitNormal Balance
© 2000 South-Western© 2000 South-WesternEducational PublishingEducational Publishing
RECEIVED CASH ON ACCOUNT RECEIVED CASH ON ACCOUNT (continued)(continued)
Lesson 4-3, page 79Lesson 4-3, page 79
August 12. Received cash on account from Kids Time, $100.00. Receipt No. 2.
1
24
1. Write the date.
2. Debit Cash.
3. Credit Sales.
4. Write the source document number.
3
© 2000 South-Western© 2000 South-WesternEducational PublishingEducational Publishing
PAID CASH TO OWNER FOR PERSONAL USEPAID CASH TO OWNER FOR PERSONAL USE
Lesson 4-3, page 80Lesson 4-3, page 80
August 12. Paid cash to owner for personal use, $100.00. Check No. 6.
1. Which accounts are affected?
Barbara Treviño, Drawing
Cash
4. How is each amount entered in the accounts?
Owner’s equity accounts decrease on the debit side.
Assets decrease on the credit side.
3. How is each classification changed?
Withdrawals are increased. (This results in a decrease in owner’s equity.)
Assets are decreased.
2. How is each account classified?
Barbara Treviño, Drawing is an owner’s equity account.
Cash is an asset account.
Cash
Barbara Treviño, Drawing
DebitNormal Balance
DebitNormal Balance
100.00
100.00
© 2000 South-Western© 2000 South-WesternEducational PublishingEducational Publishing
PAID CASH TO OWNER FOR PERSONAL USEPAID CASH TO OWNER FOR PERSONAL USE
Lesson 4-3, page 80Lesson 4-3, page 80
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34
August 12. Paid cash to owner for personal use, $100.00. Check No. 6.
1. Write the date.
2. Debit Barbara Treviño, Drawing.
3. Credit Cash.
4. Write the source document number.
2
