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Chapter 5: The following exercise will test your understanding of Fitters current credit-check system. In each situation, you are given background data and information about
Chapter 5: The following exercise will test your understanding of Fitters current credit-check system. In each situation, you are given background data and information about documents in the system (5 pts).
SITUATION 3 Background data Today's date Current list price, NRG-A Current list price, NRG-B Accounts receivable balance at start of business day, ACORN Corporation Credit limit, ACORN Corporation Current order Product Amount Price Ship to Date desired Next invoice number Documents in system 7/13/13 $1.50/bar $1.60/bar $6,000 $6,000 NRG-A 150 boxes (3,600 bars) List ACORN headquarters 7/15/13 A1300 A check from ACORN was received in yesterday's mail and entered into the accounting system. The check is for $2,000, applied to invoices from June's sales. The sales clerks are working from credit- limit printouts prepared at the beginning of the week (two days ago) SITUATION 3 Background data Today's date Current list price, NRG-A Current list price, NRG-B Accounts receivable balance at start of business day, ACORN Corporation Credit limit, ACORN Corporation Current order Product Amount Price Ship to Date desired Next invoice number Documents in system 7/13/13 $1.50/bar $1.60/bar $6,000 $6,000 NRG-A 150 boxes (3,600 bars) List ACORN headquarters 7/15/13 A1300 A check from ACORN was received in yesterday's mail and entered into the accounting system. The check is for $2,000, applied to invoices from June's sales. The sales clerks are working from credit- limit printouts prepared at the beginning of the week (two days ago)Step by Step Solution
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