You are an accounts payable clerk for a small manufacturer that creates designer flowerpots. You received three scenarios withspecific dates. Answer the following questions.(a1)Scenario 1:•Copy of vendor invoice #201 for $10,000 received on February 15 showing terms of net 2/10•Payment voucher with the vendor name, the amount due, and terms with management approval•Copy of the remittance advice sent to the vendor showing #201 included in the payment to the vendor on February 241. Would you enter accounting transactions?Yes2. If so, what accounting entries would you make? (Credit account titles are automatically indented when the amount is entered. Do notindent manually. List all debit entries before credit entries. If no entry is required, select "No Entry" for the account titles and enter O for theamount in the relevant debit OR credit box. Entering zero in ALL boxes will result in the question being marked incorrect.)DateAccount Titles and Explanation>>>DebitCredit

Step 1: Accounts Payable is the amount payable to the supplier and the creditors for the purchase of…

Answered: You are an accounts payable clerk for a…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter7: Accounting Information Systems

Section: Chapter Questions

Problem 1EA: For each of the following, indicate if the statement reflects an input component, output component,...

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Similar questions

For her flower sales, Beatrice is entering a number of customer payments as a bank deposit. After she selects a particular customer, what should she do next? Select an answer: Enter a description of the flowers. Select Product Sales under Account. Create an invoice for the sale.
Larry's Landscaping Services has extended Net 30 terms to his new customer, Mahoney's Mugs. What sales workflow would you recommend Larry use for Mahoney's? -Create Invoice > Receive Payment > Check Register -Create Sales Receipt > Bank Deposit -Create Invoice > Receive Payment > Bank Deposit -Create Sales Receipt > Receive Payment > Bank Deposit
For each of the following, indicate if the statement reflects an input component, output component, or storage component of an accounting information system. A. A credit card scanner at a grocery store. B. A purchase order for 1,000 bottles of windshield washing fluid to be used as inventory by an auto parts store. C. A report of patients who missed appointments at a doctors office. D. A list of the days cash and credit sales. E. Electronic files containing a list of current customers.
Flowers, Inc. receives a partial payment from Bridal Boutique on three open invoices. How should Flowers, Inc. handle the payment for accounting purposes? Select an answer: Manually change the payment amount in Amount received, select it, and QuickBooks will apply the payment starting from the oldest invoice. Manually change the payment amount in Amount received so the payment is applied in one-thirds to each of the three open invoices. Return the payment to Bridal Boutique because QuickBooks is unable to clear any single open invoice unless all of them are paid in full.
10. In Exhibit 3.6, you see a credit sale to G. H. Allen that is recorded in a paper-based accounting system. On July 28, 2021, Aca Pool Co. received check number 6311 from G. H. Allen in payment of his outstanding invoice. Required: a. Record the receipt of Allen's check on the cash receipts prelist, document number CR645. Your instructor will provide you a blank form. b. Use the prelist as your source document to record this cash receipts transaction in the appropriate 14
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After invoicing a regular customer, PaintPros realizes that it billed the customer for prep work that was supposed to be free per the estimate. How should a credit memo be created for this customer? Select an answer: Apply the credit memo to the overbilled invoice and send the customer a check. Apply the credit memo to any open invoice by selecting Receive Payment. Apply the credit memo to the customer's most recent payment and send the customer a refund.
Review the sales journal below. (Click the icon to view the sales journal.) Read the requirements. Requirement 1. Total each column of the sales journal. Date 2024 Jun. Jun. 1 8 101 Fletcher Jay 102 Iliana Flower 13 103 Jesse Thomas 28 104 George Westerberg 30 Totals 1. 2. Invoice No. Requirements 3. 4. Customer Account Debited Sales Journa Post. Accounts Receivable DR Ref. Sales Revenue CR Total each column of the sales journal. The following four-column accounts in the accounts receivable subsidiary ledger have been opened for you: Accounts Receivable-Flower; Accounts Receivable Jay; Accounts Receivable-Thomas; Accounts Receivable-Westerberg. Post the transactions to the accounts receivable subsidiary ledger. 1,260 2,225 360 900 Print The following selected four-column accounts in the general ledger have been opened for you: Accounts Receivable (112); Merchandise Inventory (118), Bal. $4,800; Sales Revenue (411); Cost of Goods Sold (511). Post the total of each column to the general…
Hi, for the last part of this question, it says "After you prepare the schedule of accounts payable creditor balances, determine that the total agrees with the ending balance of the Accounts Payable controlling account."Outdoor Artisan LandscapingAccounts Payable(Controlling)Balance, June 1, 20Y1 $Total credits (from purchases journal)Total debits (from cash payments journal)Balance, June 30, 20Y1 $How would I solve this problem? I've attached a picture of the original question
Required information [The following information applies to the questions displayed below.] Required: 1. Create a calculated field to calculate the Days Past Due for each invoice. 2. Summarize the accounts receivable by customer. 3. Get the detailed receivables for the customer "Taste of Thai". Ask the Question: How can we use Tableau on the total detailed late accounts receivables balance to get specific detail on invoices due by customer? Master the Data: To begin, we have a list of 200 receivables that are all past their due date as of today's date of 12/31/2021. This is shown in the Excel file Lab 2-2 Data.xlsx, which will be imported into Tableau. Software needed ⚫ Tableau • Screen capture tool (Windows: Snipping Tool; Mac: Cmd+Shift+4) Data: Excel File Lab 2-2 Alt Data.xlsx. Perform the Analysis: Refer to Lab 2-2 Alternative in the text for instructions and Lab 2-2 steps for each of the lab parts. Share the Story: Required: 1. What is the grand total amount owed in past due…
Complete a service blueprint for each of the following post office transactions. Use the service actions listed in the tables below each name of a transaction. a. Buy stamps from a machine. I Dispense stamps and change. II Receive and record cash amount. Customer actions line of information Contact person(s) line of visibility Backstage contacts line of internal interaction Support Customer actions line of information Contact person(s) line of visibility Backstage contacts line of internal interaction Arrive and wait in line if necessary. Support b. Buy stamps from a postal clerk. I Clerk fills order or suggests alternative if out of requested stamps. Clerk gives customer the stamps and collects money. II III Replenish stamps periodically. IV Verify cost does not exceed recorded cash amount. Arrive and wait in line if necessary Insert cash. Make a selection. Clerk calls next in line. Receive stamps and any change. Customer approaches clerk. Schedules are made. III IV Count change.…

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