It is Accounting Information System question: Carrie's Gallery sells original paintings by local artists. All sales occur in the store. Sometimes customers purchase more than one painting. Individual customers must pay for purchases in full at the time of sale. Corporate customers, such as hotels, however, may pay in installments if they purchase more than 10 paintings. Although Carrie's Gallery has several bank accounts, all sales monies are deposited intact into the main checking account. Draw an REA Diagram for the gallery's revenue cycle. Be sure to include cardinalities. Carrie's Gallery only purchases finished paintings (it never commissions artists). It pays each artist 50% of the agreed price at the time of purchase, and the remainder after the painting is sold. All purchases are paid by check from Carrie's main checking account. Draw an REA Diagram, complete with cardinalities, of the gallery's revenue and expenditure cycles. Integrate the cycles and then develop the database. Please do : 1. The Integrated REA 2. The Database - Include the PKs, FKs, and necessary attributes

all have cleared handled on the bank reconcilement? 22. A company sold $15,000 of inventory to a customer. The shipment arrived late and the customer complained. The company grants the customer a $450 allowance. Write the entry to record the company (the seller) post to record this transaction.

The data below is for Betts Corporation for the year. Accounts receivable-December 31 Customer accounts written off as uncollectible during the year Allowance for doubtful accounts--January 1 Estimated uncollectible accounts based on an aging analysis If the aging approach is used to estimate bad debts, determine the bad debt expense for the year. Select one: O O O A. $48,600 B. $48,000 C. $52,200 D. $59,400 $3,216.000 48,000 52,200 63.600

Accompanying a bank statement for Marsh Land Properties is a credit memo for payment on a $15,000 one-year note receivable and $900 of interest collected by the bank. Marsh Land Properties had been notified by the bank at the time of collection, but had made no entries. Journalize the entry that should be made by Marsh Land to bring the accounting records up to date. If an amount box does not require an entry, leave it blank.

Han's Supplies's bank statement contained a $260 NSF check that one of its customers had written to pay for supplies purchased. Required: a. & c. Show the effects of the following transactions on the financial statements in the horizontal statements model. (a) Recognize the NSF check, (c) Customer redeems the check by giving Hans $280 cash in exchange for the bad check. The additional $20 was a service fee charged by Hans. Note: Enter any decreases to account balances with a minus sign. For changes on the Statement of Cash Flows, indicate whether the item is an operating activity (OA), investing activity (IA), financing activity (FA), or leave the cell blank if there is no effect. Event (a) (c) HAN'S SUPPLIES Horizontal Statements Model Balance Sheet Income Statement Assets Cash + Accounts Receivable Liabilities + Equity Revenue Expense Net Income Statement of Cash Flows

Accompanying a bank statement for Marsh Land Properties is a credit memo for payment on a $15,000 1-year note receivable and $900 of interest collected by the bank. Marsh Land Properties had been notified by the bank at the time of collection, but had made no entries. Journalize the entry that should be made by Marsh Land to bring the accounting records up to date. If an amount box does not require an entry, leave it blank.

On April 3, Snappy Sales decides to establish a $135 petty cash fund to relieve the burden on Accounting. a.  Journalize the establishment of the fund. If an amount box does not require an entry, leave it blank. Petty Cash 135 Cash 135 On April 11, the petty cash fund has receipts for mail and postage of $32.75, contributions and donations of $25.25, meals and entertainment of $68.00, and $9.75 in cash. Journalize the replenishment of the fund. Round your answers to two decimal places. Mail and Postage expense 32.75contributions and donations 25.25meals and entertainment 68.00Cash short or over  0.75 Cash                                                                                     125.25    On April 12, Snappy Sales decides to increase petty cash to $175. Journalize this transaction. If an amount box does not require an entry, leave it blank. Petty cash 40Cash                          40   Please let me know if I did it right?

Archer allows customers to use bank credit cards to charge purchases.  The bank used by Archer processes all bank credit cards in exchange for a 3% processing fee.  All credit card receipts deposited are credited to the company account on the day of deposit.  Assume that on August 10, Archer sold and deposited $5,200 worth of bank credit card receipts.  The cost of sales is $2,800.  Record this transaction in the general journal.

In the normal operation of business, you receive a check from a customer and deposit it into your checking account. With your bank statement, you are advised that this check for $775 is "NSF." The bank also informs you that due to the amount of activity on your business account the monthly service charge is $75. During a bank reconciliation, you will Oa. add both values to balance according to bank Ob. add both values to balance according to books Oc. subtract both values from balance according to books Od. subtract both values from balance according to bank

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