9 – Acctg for Purchases and Cash Payments


6320: Accounting

  • 55: Compare the accounting procedures for different types of business ownership and business cycles.
  • 56: Differentiate between a service and a merchandising business.
  • 57: Journalize purchase transactions.
  • 61:  Post from journals to general and subsidiary ledgers.
  • 62: Prepare schedules for subsidiary ledgers.
  • 64:  Receive vendor invoices for a merchandising business.
  • 71:  Summarize the progression from source documents to journals to ledgers to financial reports for a merchandising business.
  • 72:  Describe record-organization and retention-schedule procedures for a merchandising business.
  • Optional: 73:  Maintain financial records for a merchandising business, using accounting software.
  • Optional: 74:  Maintain financial records for a merchandising business, using spreadsheet software.


  • LO1 Distinguish among service, retail merchandising, and wholesale merchandising businesses.
  • LO2 Identify differences between a sole proprietorship and a corporation.
  • LO3 Explain the relationship between a subsidiary ledger and a controlling account.
  • LO4 Describe accounting procedures used in ordering merchandise.
  • LO5 Discuss the purpose of a special journal.
  • LO6 Journalize purchases of merchandise on account using a purchases journal.
  • LO7 Post merchandise purchases to an accounts payable ledger and a general ledger.
  • LO8 Record cash payments using a cash payments journal.
  • LO9 Record replenishment of a petty cash fund.
  • LO10 Post cash payments to an accounts payable ledger and a general ledger.

Chapter 9 Accounting Text

Chapter 9 Vocabulary Acct

Chapter 9 Coversheet

Chapter 9 Mastery

Chapter 9 study guide

Section 1:

Section 2: