Lesson 28: Independent Practice: journalizing/posting using general jounral, account for sales return and allowances and declaration and payment of Dividends

What is the purpose of recording sales returns and allowances in the accounting records?
How do you record a sales return in the general journal?
What accounts are affected by a sales allowance, and how are they recorded?

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.
11. Describe and record equity-related transactions.
12. Describe and record revenue-related transactions.



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: Independent practice : journalizing/posting using general journal, account for sales return and allowances and declaration and payment of Dividends

Purpose: To emphasize the importance of accuracy in financial record-keeping

DOK 4:
To solve a complex accounting problem involving multiple sales transactions, returns, allowances, and dividends

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 students

application or mastery or challenge working papers

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

Online working papers (Mindtap)

Microsoft Excel software

Online instructional tools