Format of Special Journals
In General Journal, transactions are recorded in several lines (see Figure 1), and each transaction is posted to the general ledger separately. For example, if fifty sales on account were made during one day, fifty ledger postings would have to be made to three general ledger accounts: Accounts Receivable, Sales, and Sale Tax Payable. In special journal, transactions are recorded in a single line, and the format of the journal made it possible to post only the total amount for each account to the general ledger. For example, if fifty sales on account were made during one day, only the total amount for Accounts Receivable, Sales, and Sales Tax Payable were posted to the general ledger. Thus the posting process is more efficient. Figure 2 shows the example formats of the Special Journals.
SALES JOURNAL
| Date | Sale No. | To Whom Sold | Post. Ref. | Accounts Receivable Debit | Sales Credit | Sales Tax Payable Credit |
|---|---|---|---|---|---|---|
| April 1 | 900 | A. Smith | $1,000.00 | $940.00 | $60.00 | |
| April 1 | 901 | B. Johnson | $2,000.00 | $1,880.00 | $120.00 | |
| April 1 | 902 | C. Chang | $1,000.00 | $940.00 | $60.00 | |
| April 4 | 904 | D. Garcia | $1,000.00 | $940.00 | $60.00 |
CASH RECEIPT JOURNAL
| Date | Account Credited | Post Ref. | General Credit | Accounts Receivable Credit | Sales Credit | Sales Tax Payable Credit | Cash Debit |
|---|---|---|---|---|---|---|---|
| May 1 | B. Johnson | $1,000 | $1,000 | ||||
| May 3 | C. Chang | $1,000 | $1,000 | ||||
| May 5 | A. Smith | $1,000 | $1,000 | ||||
| May 8 | Interest Receivable | $400 | $400 |
PURCHASES JOURNAL
| Date | Invoice No. | From Whom Purchased | Post Ref. | Purchased Debit / Accounts Payable Credit |
|---|---|---|---|---|
| June 2 | 6321 | BCD Corp. | $12,000 | |
| June 5 | 12D | Telecom8 Inc | $800 | |
| June 21 | 412 | Furniture-X | $2,000 |
CASH PAYMENTS JOURNAL
| Date | Check No. | Account Debited | Post Ref. | General Debit | Accounts Payable Debit | Purchases Credit | Cash Credit |
|---|---|---|---|---|---|---|---|
| July 1 | 1254 | Rent Expense | $1,200 | $1,200 | |||
| July 2 | 1255 | BCD Corp. | $12,000 | $1,200 | |||
| July 2 | 1256 | Furniture-X | $1,200 | $1,200 |
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