Journals, Ledgers, and Cash Books

Recording

Transferring

Posting

Entry making

Cash

Bank balance

Accounts receivable

Cash reserve

Receipts

Payments

Incomes

Expenditures

Sales ledger

Sales account

Sales daybook

Sales journal

£258 credit

£120 credit

£60 credit

£138 debit

The need to make regular payments into and out of the bank

Have access to funds for emergency use

The desire to earn maximum return on financial investment

Not to have too much cash held on the business premises

Checks can be kept on types of goods that are sold

The firm can spend more time on writing up entries

Sales can be analyzed on the geographical basis

Profit can be calculated on a departmental basis

Credit balance

Debit balance

Cash balance

Neither debit nor credit balance

Cash payments journal

Cash receipts journal

Purchases return journal

General journal

Journal entry

Multi entry

Additional entry

None of these