会计学Chapter6.ppt

Chapter 6 Reporting and Interpreting Sales Revenue,Receivables, and Cash Accounting for Sales Revenue Learning Objectives Reporting Net Sales Credit Card Sales Credit Card Sales When credit card sales are made, the company must pay the credit card company a fee for the service it provides. Credit Card Sales to Consumers On January 2, a Timberland factory store’s credit card sales were $3,000. The credit card company charges a 3% service fee. Prepare the Timberland journal entry. Sales on Account When companies allow customers to purchase merchandise on an open account, the customer promises to pay the company in the future for the purchase. Sales Discounts Sales Discounts Sales Discounts to Businesses On January 6, Timberland sold $1,000 of merchandise on credit with terms of 2/10, n/30. Prepare the Timberland journal entry. Sales Discounts to Businesses On January 14, Timberland receives the appropriate payment from the customer for the January 6 sale. Prepare the Timberland journal entry. Sales Discounts to Businesses If the customer remits the appropriate amount on January 20 instead of January 14, what entry would Timberland make? Sales Returns and Allowances Sales Returns and Allowances On July 8, Fontana Shoes returns $500 of hiking boots originally purchased on account from Timberland. Prepare the Timberland journal entry. Reporting Net Sales Companies record sales discounts,sales returns and allowances, and creditcard discounts separately to allowmanagement to monitor these transactions. Learning Objectives Gross Profit Percentage Gross Profit Percentage Measuring and Reporting Receivables Measuring and Reporting Receivables – Notes Receivable Learning Objectives Accounting for Bad Debts Accounting for Bad Debts Accounting for Bad Debts Most businesses record an estimate ofthe bad debt expense by an adjustingentry at the end of the accounting period. Accounting for Bad Debts Allowance Method Estimate bad debt expense –