sales journal

System
System Posts: 100,534 🤖 Admin 🤖
edited June 18 in AAT student discussion
Can I just confirm that I done the sales journal right?
The question stated that 3200 worth of credit sales were included in the tb But they actualy related to April so you needed to DR Sales and CR trade receivables?? to make the TB correct as they were stated in the wrong month?

Comments

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:sales journal

    i didn't put his journal through, my accounts still balanced.

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:sales journal

    I did the same as Soph. The sales needed to be taken out as they related to the next year not this year. The journal the assistant had written was the wrong way around so it had to be changed to Dr Sales and Cr Trade Receivables. It balanced doing this.

    Hope this was right!!
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:sales journal

    your accounts will still balance if you did nothing, your overall sales figure will be incorrect though as you are overstating the sales in march as it includes some of April.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:sales journal

    Oh no. I just realised that. Your right, we needed to take the figure out.

    How come my balance sheet then balanced!!!!!
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:sales journal

    That's what I thought, so I also swapped the journal entries round and posted it.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:sales journal

    well they would do because its double entry
  • System
    System Posts: 100,534 🤖 Admin 🤖
    sales journal
    soph wrote:
    Can I just confirm that I done the sales journal right?
    The question stated that 3200 worth of credit sales were included in the tb But they actualy related to April so you needed to DR Sales and CR trade receivables?? to make the TB correct as they were stated in the wrong month?
    Exactly what I did.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:sales journal

    I also didn't take them out - will teach me to actually look at the dates :roll:

    Also did a real silly, worked out the impairment to stock was 300 and then somehow managed to deduct 3000 from stock value writing it as 5407 :oops: :oops:

    Needless to say mine also still balanced due to the aforementioned double entry!

    Hoping that as everything balanced including balance statement, it showed that most of the time I know what I'm doing!!! :D
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:sales journal

    oops - i didn't do anything either and i think a few of us done the same -misread the q

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