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week 2 - DFD_Exer-Prob_3.9a

week 2 - DFD_Exer-Prob_3.9a - payment The remittance slips...

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Exercise: Problem 3.9 part a. Customer payments include cash received at the time of purchase and account payments received in the mail. At day's end, the treasurer endorses all checks and prepares a deposit slip for the checks and the cash. A clerk then deposits the checks, cash, and the deposit slip at the local bank each day. When checks are received as payments for accounts due, a remittance slip is included with the
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Unformatted text preview: payment. The remittance slips are used to update the accounts receivable file at the end of the day. The remittance slips are stored in a file drawer by date. Every week, a cash receipts report and an aged trial balance are generated from the data in the accounts receivable ledger. The cash receipts report is sent to the credit and collections department....
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