Question: 1) Explain in detail the below documents and how they are used in an accounting information system. Make sure you explain their importance and the

1) Explain in detail the below documents and how they are used in an accounting information system. Make sure you explain their importance and the information that is included on the document. The document is Credit memo

2) In your articulation of statements, how did you calculate the beginning and ending balances of Retained Earnings. Also, the balance of Retained Earnings on your adjusted trial balance is the beginning balance of Retained Earnings – if all the other balances are the ending balance of the accounts, why is the balance on the adjusted trial balance for RE the beginning balance?

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1 CREDIT MEMO It is a document issued by supplier to the customer informing the reduction of the amount that a customer owes to seller If it is cash s... View full answer

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