Lesson 20: Accounting for Cash Payments/Posting

What types of transactions are recorded in the cash payments journal?
Why is it important to record cash payments accurately?
Why is it important to record cash payments accurately?

cash payments journal, trade discount, list price, net price, cash discounts, general amount column,

CTE Business & Finance Technology

B. Accounting Principles: Identify and describe generally accepted accounting principles (GAAP/IFRS) and explain how the application of these principles impacts the recording of financial transactions and the preparation of financial statements

9. Apply transactions for accounts payable and other short-term debt.



HS.CTE.3B - 3B. Apply concepts and processes in a multistep procedure

The SAT measures student proficiency in math reading, language, and writing. With strong scores, accounting students set themselves up for successful entry into accounting and finance programs.

Description: To understand the process of recording cash payments in a cash payments journal and posting the entries to the general ledger.

Purpose: understand concept of cash transactions and their significance in financial record-keeping and the role of the cash payments journal in the accounting system.

DOK 1:
List the components typically included in a cash payments journal.

DOK 2
Summarize the steps involved in recording a cash transaction in the cash payments journal.

DOK 4:
Independent practice accounting concepts/transactions promote critical thinking and problem-solving in accounting. Helps identify areas where they excel or need improvement.

Recording these cash payments in a cash payments journal helps the business owner keep track of cash flow, manage expenses, and maintain accurate financial records, which are essential for budgeting and financial planning.

Confuse cash payments (outflows) with cash receipts (inflows) and mistakenly record receipts in the cash payments journal

Sampling, modeling, one one instruction, Google classroom or Moodle. Paper or or online assignments, online instructional tools, videos, textbook or online textbook, excel real world application of information, Spanish version available for ELL students

Guided Notes worksheet

Guiding questions/term assignment

work together/on own assignment 

Century 21, Accounting,  General Journal, 11th edition, online/paper edition.

Online working papers (Mindtap)

Microsoft Excel software

Online instructional tools