Computerized Accounting Systems Most computerized accounting systems use electronic forms to record transaction information, such as the invoice form illustrated at the top of Exhibit 7. a.  Which of the following would NOT be a key input field (space) in an electronic invoice form. Customer name, Invoice Number, Amount of cost of merchandise sold, or Amount revenue b.  What accounts are posted from an electronic invoice? Cash and fees earned, Accounts Payable and fees earned, Cash and Accounts receivable, or Accounts Receivable and fees earned  c.  Are special journal totals posted to control accounts at the end of the month in an electronic accounting system? YES OR NO

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
Question

Computerized Accounting Systems

Most computerized accounting systems use electronic forms to record transaction information, such as the invoice form illustrated at the top of Exhibit 7.

a.  Which of the following would NOT be a key input field (space) in an electronic invoice form.

Customer name, Invoice Number, Amount of cost of merchandise sold, or Amount revenue

b.  What accounts are posted from an electronic invoice?

Cash and fees earned, Accounts Payable and fees earned, Cash and Accounts receivable, or Accounts Receivable and fees earned 

c.  Are special journal totals posted to control accounts at the end of the month in an electronic accounting system?

YES OR NO 
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps

Blurred answer
Knowledge Booster
Transaction processing system
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education