Lesson 5: Sales Revenue

Lesson Details

Video Lessons

Below are the lesson presentation videos. Each lesson is organized in a series of video segments (i.e., Part 1, Part 2, Etc.). Please watch the videos one after another in order. Upon completion, navigate to the next lesson. We strongly suggest you take the practice quizzes as we present them below to test your understanding of the content.

Part 1

Part 2

Know Your Words

Accounting is the language of business. To become proficient in accounting, you must understand each term associated with each accounting concept. Every lesson has a specific set of words, which will always be listed here at the end of each lesson. Simply click on a word to display the definition within our glossary. We urge you to take the neccesary time to carefully study each term before taking any assessment.

Aging of Accounts Receivable
Allowance for Uncollectible Accounts Receivable
Allowance Method of Accounting for Uncollectible Accounts Receivable
Bad Debt Expense
Cash Discount
Cash Sales
Contra-Asset Account
Contra-Revenue Account
Cost of Goods Sold
Credit Card Sales
Credit Policies
Credit Sales
Direct Write-Off Method of Accounting for Uncollectible Accounts Receivable
Gross Margin
Gross Sales Revenues
Markup
Merchandise Return
Net Realizable Value of Accounts Receivable
Net Sales Revenues
Percentage Markup
Sales Discounts
Sales Returns and Allowances
Sales Revenues
Uncollectible Accounts Receivable

Additional Lesson Resources

Below are two additional resources to help you learn the material. The most important of these resources is the Lesson Notes, which we provide via a PDF (see link below). The Lesson Notes contain the important slides of the presentation. We strongly suggest you print out this PDF and follow along during the presentations. Making notes on the slides about key concepts will help you cement the concepts in your mind at a quicker pace. We also provide a supplemental textbook for your review. Most students NEVER use the textbook in this course; however, it is here if you want to refer to a particular concept.