Lesson 22: Accounting for Sales on Account/Posting
Duration of Days: 2
Lesson Objective
Explain the relationship between accounts receivable ledger its controlling account and recording sales on account using a sales journal.
What is the purpose of the accounts receivable ledger?
How does the accounts receivable ledger differ from the controlling account in the general ledger?
What is the role of the controlling account in managing accounts receivable?
What information is required to record a sale on account in the sales journal?
selling price, markup, accounts receivable ledger, sales tax, sales payable
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.
12 Describe and record revenue-related transactions.
HS.CTE.2A - 2A. Recall and apply prior knowledge for intended purpose.
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 relationship between accounts receivable ledger, its controlling account, and the sales journal
Purpose: To introduce the accounts receivable ledger, the controlling account in the general ledger, and the sales journal.
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.
To highlight the importance of documentation and verification in maintaining accurate financial records.
Errors in adding or subtracting amounts, leading to incorrect financial records is not important.
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 student
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