The recorded lesson focuses on the process of recording credit sales transactions in the sales journal, which is considered a book of prime entry, and then transferring the totals to the general ledger. Using Paul’s Grocery Shop as an example, it explains the collection and payment of VAT (Value Added Tax) and demonstrates how to calculate VAT within sales, using a specific transaction involving Ron’s business. The lesson provides detailed steps to separate VAT from the gross amount to find the net amount, emphasizing the importance of accurate financial record-keeping.