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Collection calls may be made to Ontario residents between the hours of 7 a.m. and 9 p.m. Fastern Standard Time. true or false?
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- Refer to RE6-8. On April 23, 2020, McKinncy Co. receives a check, from Mangold Corporation for 8,500. Prepare the journal entry for McKinncy to record the collection of the account previously written off.The final step when receiving customer checks by mail is for the ________ to compare two different records for the day. A. receiving agent B. controller C. treasurer D. purchasing agent thanks!!1What is the total outstanding checks on December?
- III. Direction: Fill in the blank. Use the word given in the box to fill the blank.Assume today is September 15, 2021.1. A check written today and dated November 1, 2021 is a _____________.2. A check written today and dated June 15, 2021 is a _________________.3. A check received today from customer dated February 15, 2021 is a ____________.4. A check written today and dated September 15, 2021 is a ___________________.5. A check that is payable to “Cash” is a _______________.6. The institution in which the depositor’s bank account is maintained is the __________.7. The owner of bank account whose signature appears on check is the ________.8. The person entitled to the payment of check is the _________________.9. A check with two parallel lines at the left corner of the check is ___________.10. A check payable to individual whose name appears on check is a ____________control weaknesses that you identified. Explain your solution. a rede- system that resolves the 3. GREEN POND NURSERY (STAND- ALONE PC-BASED ACCOUNTING 3 GREEN POND NURSERY (STAND- SYSTEM) Green Pond Nursery Supply (GPNS) is a garden center wholesaler in eastern Pennsylvania that sells and distributes a wide range of garden products and equipment including organic fertilizers, premium flower and grass seeds, organic pesticides, and gar- den spreaders. GPNS's customers are primarily small garden centers and landscape companies in the Mid-Atlantic states. Sales are on credit. GPNS's current information system includes man- ual procedures supported by independent (non- networked) PCs in each department. Communica- tions between departments are entirely through hard-copy documents. Recently, GPNS has been receiving complaints from suppliers regarding pay- ment errors. Management believes that these com- plaints stem, in part, from their antiquated computer system. You have been hired to…20. If the billing cycle is from the first day of April to the last day of April, howmany days are in the billing period?A. 29B. 28C. 31D. 30
- 48. A sales invoice for P 5,200 was computed correctly but, by mistake, was entered as P 2,500 to the sales journal and to the accounts receivable master file. The customer remitted only P 2,500, the amount on his monthly statement. Select the control that should have prevented the misstatement. Group of answer choices Unauthorized remittance deductions made by customers or other matters in dispute are investigated promptly by a person independent of the accounts receivable function. Sales invoice serial numbers, prices, discounts, extensions, and footings are independently checked. The customers’ monthly statements are verified and mailed by a responsible person other than the bookkeeper who prepared them. Prelistings and predetermined totals are used to control postings.What year did the investigation start on Wirecard? When was the investigation completed?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
- Oriole Products uses both special journals and a general journal. Oriole also posts customers' accounts in the accounts receivable subsidiary ledger. The postings for the most recent month are included in the subsidiary T-accounts below. Estes Bal. 305 245 Truong 0 Bal. 225 Gehrke Bal. 275 170 Weiser Bal. 155 310 160 230 225 275 155 Determine the correct amount of the end-of-month posting from the sales journal to the Accounts Receivable control account.Which of the following controls most likely would assure that all billed sales are correctly posted to the accounts receivable ledger? a. Each shipment on credit is supported by a prenumbered sales invoice. O b. Daily sales summaries are compared to daily postings to the accounts receivable ledger. O C. The accounts receivable ledger is reconciled daily to the control account in the general ledger. O d. Each sales invoice is supported by a prenumbered shipping document.A customer issued a note for an overdue account. Which of the following procedures is correct? A. The note is credited in the general journal by a debit to accounts receivable B. The amount will be posted to the credit side of the customer's card C. The amount will be posted to the debit side of the customer's card D. This will be posted to the accounts receivable general ledger on the debit side.
