Almost any document that provides information about a business ...

[Zulu123]

Almost any document that provides information about a business transaction can be called a(n) ___________________ _.
 Fill in the blank(s) with correct word

Question 2

The following information pertains to Amigo Corporation:
 
  Month Sales Purchases
   July 30,000 10,000
   August 34,000 12,000
   September 38,000 14,000
   October 42,000 16,000
   November 48,000 18,000
   December 60,000 20,000
 
   Cash is collected from customers in the following manner:
   Month of sale (2 cash discount) 30
   Month following sale 50
   Two months following sale 15
   Amount uncollectible 5
   40 of purchases are paid for in cash in the month of purchase, and the balance is paid the following month.
 
  Required:
  a. Prepare a summary of cash collections for the 4th quarter.
  b. Prepare a summary of cash disbursements for the 4th quarter.

[Bigfoot1984]

Answer to Question 1

source document

Answer to Question 2

Answer:
a. Cash collections Oct 36,448 + Nov 40,812 + Dec 47,940 = 125,200

October November December
August  5,100
September 19,000 5,700
October 12,348 21,000 6,300
November 14,112 24,000
December 17,640
-------- --------- --------
36,448 40,812 47,940

b. Cash disbursements Oct 14,800 + Nov 16,800 + Dec 18,800 = 50,400

October November December
September 8,400
October 6,400 9,600
November 7,200 10,800
December 8,000
-------- --------- --------
14,800 16,800 18,800