Accounting today:

Posting from special journals can be a complicated process. Remember special journals are designed to "streamline" transactions. This means similar entries are recorded in the same location. In chapter 12 we divide the ledger into three parts. The general ledger still holds all of the cards but subsidiary ledgers are established to handle Accounts Receivable (customers) pg.. 283 and Accounts Payable (vendors or suppliers) see pg. 274. With the exception of the general journal each special journal will have individual amounts posted and column totals. Peruse section 12-5 for posting to a general ledger on pages 291-294. Peruse section 12-6 for posting column totals on pages 296-301. No handouts need to be submitted today. Review the parts before we take a look at the whole tomorrow.