Exercise 10: Sales Journal
In this exercise you are given details of twenty (20) sales on credit transactions. You must analyse each sale and place the amount in the appropriate columns i.e. if the details column says Sales of Footballs then put the amount in the 'Sales' column. Each column represents an account in the General Ledger.
To commence this exercise you must download a Microsoft Excel file containing a partially completed Sales Journal.
The Sales Journal in the Excel file contains a list of twenty (20) saes on credit transactions.
Your task is to complete the Sales Journal by analysing each transaction and deciding in which account column it must be placed.
When you have completed the analysis, you must total each column and make sure that you "balance", that is the sum of the total column must be equal to the total of the all account columns.
You will find further instructions on the first page of the Excel workbook file. You are advised to save your work every few minutes.
For more information on journals go to the page What are journals?
You can obtain an answer to this and all other accounting exercises on this website.