Unit 4

what are source document

*Invoice*Recepit*Deposit Slip*cHECK

why source document

the first document that exists relating to a transaction.serve as proof

Incvocies

Normally relate to credit transactions list goods or services provided and their prices suppliers normally send an invoice with goods (or once services have been delivered) indicated payment terms "bills"

Receipts

confirm that services or goods have been received normally relate to cash transactions

deposit slip

proof that cash has been deposited in a bank account

check counterfoil

this is the part of the check kept by the drawer(writer) of the check as a record of the transaction

statement 

report showing: the amount owned by one business to another details of transactions between the two businesses. 

payment conformation

proof of internet transactions

what is a ledger

a bunch of t-accounts grouped together the main ledger is called the general ledger.  virtually all t-accounts in a buissnes fall under the general ledger

accounting cycle

4-1 : source documents

4-6