Making Entries from Sales Day Book into the Sales Ledger Example

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Making Entries from Sales Day Book into the Sales Ledger Example

Image credit: Frank Wood's Business Accounting 1

Image credit: Frank Wood’s Business Accounting 1

ZIMSEC O Level Principles of Accounts Notes: Posting to the Sales Ledger from the Sales Day Book

You are a bookkeeper for G Moyo. He are asks you to enter into the Sales Day Book the following transactions and post the items to them to their relevant accounts in the Sales Ledger and then show the transfer to the sales account in the General Ledger.
20X6
Mar 1 Credit sales to J Musengezi for $310
3 Credit sales to T Chibaba for $285
6 Credit sales to L Maukazuva for $38
10 Credit sales to J Musengezi for $74
17 Credit sales to H Tirivangani $534
19 Credit sales to J Hatinzwi $92
27 Credit sales to L Maukazuva $44
31 Credit sales to K Kunze $112

Solution

Sales Day Book    
Date: March 2014DetailsInvoiceFolioAmount
1J MusengeziB1237SL32310
3T ChibabaB1238SL45285
6L MukazuvaB1239SL3538
10J MusengeziB1240SL3274
17H TirivanganiB1241SL33534
19J HatinzwiB1242SL4092
27L MukazuvaB1243SL3544
31K KunzeB1244SL67112
Total1489
    Sales Ledger    
J Musengezi
DateDetailsFolioAmountDateDetailsFolioAmount
1 MarchSalesGL45310
10 MarchSalesGL4574
T Chibaba
DateDetailsFolioAmountDateDetailsFolioAmount
3 MarchSalesGL45285
L Mukazuva
DateDetailsFolioAmountDateDetailsFolioAmount
6 MarchSalesGL4538
27 MarchSalesGL4544
H Tirivangani
DateDetailsFolioAmountDateDetailsFolioAmount
10 MarchSalesGL45534
J Hatinzwi
DateDetailsFolioAmountDateDetailsFolioAmount
19 MarchSalesGL4592
K Kunze
DateDetailsFolioAmountDateDetailsFolioAmount
31 MarchSalesGL45112
General Ledger
Sales Account
DateDetailsFolioAmountDateDetailsFolioAmount
31 MarchCredit Sales (March)1489

NB Do not worry much about the Folio column. In the real world the business in question determines which folio entries to use based on its own policies.

To access more topics go to the Principles of Accounts Notes page.

 

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By | 2017-01-17T11:17:12+00:00 October 6th, 2015|Notes, Ordinary Level Notes, Principles of Accounts Notes|0 Comments

About the Author:

He holds an Honours in Accountancy degree from the University of Zimbabwe. He is passionate about technology and its practical application in today’s world.

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