Debit accounts receivable
Credit sales revenue
general ledger, general journal, special ledger, special journal, column balance ledger.
debit reserve accountcredit cash / bank
sales ledger
Cash book is a journal because the transactions are recorded in it for the first time from the source of document and from journal these transactions are posted to the respective account in the ledger. We can say cash book is a ledger also in the sense that it serves the purpose of cash account also.As such cash book is journal as well as ledger, and hence it may call journalised ledger.
he general ledger is a collection of the firm's accounts. While the general journal is organized as a chronological record of transactions, the ledger is organized by account. In casual use the accounts of the general ledger often take the form of simple two-column T-accounts. In the formal records of the company they may contain a third or fourth column to display the account balance after each posting.
Payroll journal
A subsidiary ledger is a group of similar accounts whose combined balances equal the balance in a specific general ledger account. The general ledger account that summarizes a subsidiary ledger's account balances is called a control account or master account. For example, an accounts receivable subsidiary ledger (customers' subsidiary ledger) includes a separate account for each customer who makes credit purchases. The combined balance of every account in this subsidiary ledger equals the balance of accounts receivable in the general ledger. Posting a debit or credit to a subsidiary ledger account and also to a general ledger control account does not violate the rule that total debit and credit entries must balance because subsidiary ledger accounts are not part of the general ledger; they are supplemental accounts that provide the detail to support the balance in a control account.
general journal to the general ledger...
The purchase journal is posted to the general ledger by transferring the total amounts recorded in the purchase journal to the corresponding accounts in the general ledger, typically the accounts payable and inventory accounts. Each entry is recorded as a debit to the inventory account and a credit to the accounts payable account. This posting process usually occurs at the end of an accounting period, ensuring that all purchases are accurately reflected in the financial statements. Posting can be done manually or through accounting software, which automates the process for efficiency.
Adjusting and Closing Entries.
The "Post Reference" or PR is used ona Ledger to lead you back to the original transaction by identifying the Journal and the page in the Journal. Example - GJ1 = General Journal, page 1. On a Journal the PR can be used to identify the account number used from the chart of accounts
All sales on account are recorded in the accounts receivable ledger. This ledger tracks amounts owed by customers for goods or services sold on credit, reflecting the company's outstanding receivables. Additionally, these sales are recorded in the general journal and subsequently posted to the general ledger, impacting both sales revenue and accounts receivable accounts.