Mr Rouse's Online Classroom

Beyond Chalk: Education Innovation

The General Journal

 

If a business uses Special Journals such as Cash Receipts, Cash Payments, Sales and Purchases Journals, why would they need to use a General Journal? This is because there are certian transactions that do not fit into these journals. The main types of transactions that are recorded in the General Journal are:

  • entries to commence business
  • non-cash transactions involving the owner
  • bad debts
  • correcting entries
  • closing entries
  • balance day adjustments

See if you can make up a transaction for each of the six situations listed above.

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