Author Question: Match seven of the terms for documents and records (a-k) with the descriptions provided below ... (Read 149 times)

allihubbard · **on:** Aug 21, 2022

Question 1

Explain each of the following types of documents and indicate the class of transactions in which they are commonly used.

1.	customer order

2.	shipping document

3.	remittance advice

4.	sales returns and allowance journal

5.	uncollectible account authorization form

Question 2

Match seven of the terms for documents and records (a-k) with the descriptions provided below (1-7).

a.	customer order form

b.	sales order

c.	bill of lading

d.	sales invoice

e.	summary sales report

f.	accounts receivable master file

g.	monthly statement

h.	remittance advice

i.	prelisting of cash receipts

j.	credit memo

k.	uncollectible account authorization form

________ 1. A list prepared when cash is received by someone who has no responsibility for recording sales, accounts receivable, or cash, and has no access to the accounting records. It is used to verify whether cash received was recorded and deposited at the correct amounts and on a timely basis.

________ 2. A document indicating a reduction in the amount due from a customer because of returned goods or an allowance.

________ 3. A document prepared to initiate shipment of goods, indicating the description of the merchandise, the quantity shipped, and other relevant data. It is a written contract between the carrier and seller of the receipt and shipment of goods.

________ 4. A document for communicating the description, quantity, and related information for goods ordered by a customer. This is frequently used to indicate credit approval and authorization for shipment.

________ 5. A document mailed to the customer and typically returned to the seller with the cash payment.

________ 6. A document used internally to indicate authority to write-off an account receivable as uncollectible.

________ 7. A document or electronic record indicating the description and quantity of goods sold, the price, freight charges, insurance, terms, and other relevant data.

lactosetheintolerant · **Reply #1 on:** Aug 21, 2022

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