Books of prime entry

• explain the advantage of using various books of prime entry
• explain the use of and process accounting data in the books of prime entry: cash book, petty cash book, sales
journal, purchases journal, sales returns journal, purchases returns journal and the general journal
• post the ledger entries from the books of prime entry
• distinguish between and account for trade discount and cash discounts
• explain the dual function of the cash book as a book of prime entry and as a ledger account for bank and cash
• explain the use of and record payments and receipts made by bank transfers and other electronic means
• explain and apply the imprest system of petty cash.