1)The credit department runs a credit check on all customers who apply for credit one in account proves uncollectible, the credit department authorizes the right off of the accounts receivable number  2) cash receipts come into the credit department which separates the cash received from the customers remittance slips. The credit department list all cash receipts by customer name and amount of cash received 3)  The cash goes to the treasurer for deposit in the bank the remittance slip go to the accounting department for posting to customers. 4) The controller compares the daily deposit slip to the total amount posted to the customers account. Both amounts must agree.

How do you record a debit card purchase in Quickbooks? A. Use the Enter Bills window to enter the information, then immediately go to the Pay Bills window and prepare th check. B. Prepare a journal entry to debit the expense account of the purchase and credit cash. C. Wait until you do the bank reconciliation and enter one journal entry for all of your debit card purchases. D. Using the Write Checks window, in the No. field,type “Debit.” Enter the vendor name and amount in the check area.

Which of the following is true of a petty cash voucher? a.It must be issued once in a month by a bank. b.It must explain the purpose of the payment. c.It must only be used to account for payments of more than $5. d.It must be signed only by the person who authorized the payment.

1.Journalize and post transactions on account to the cash payments j ournal   2.Complete the petty cash report by classifying each expense to compute the actual cash on hand.   3.Print the cash paymentsjournal and petty cash report.   The cash paymentsjournal and a petty cash report for Electronic Source are given in the Worlting Papers.   Instructions:   Use page 9 of a cash payments journa l tojourna lize the following transactions completed during September of the cun-ent year.Source documents are abbreviated as follows check,C;purchase invoice,P.Save your work to complete Problem 9-S.   Transactions: Sept 2.Paid cash for advertising, $125.00.C388.   5.Paid cash on account to Henson Audio, $2,489.00, covering P346,less 2% discount. C389.   8.Paid cash for heating bill, $240.00.C390 .   10.Paid cash on account to Peterson Electronics,$3,484.00 covering P349,less 2% discount.C391.   12.Paid cash for office supplies,$43.00.C392$.   15.Paid cash to KLP Mfg.for merchandise with a list…

Hello, How do I solve this? Thanks