Part 2: Understanding Accounting Relational Database

Quick Jolt Electronics manufacturers and sells specialized electronic components to customers across the country. The following tables illustrates some of the records in its accounting databases. For example, the "Sales by Inventory number" records show detailed sales data for each of the company's inventory items, and the "Customer Payments" records indicate customer cash payments. Listed by invoice number. Use the information provided in these tables to answer the following questions.

Sales by Inventory Number Item Invoice Quantity Price Each Number Number I-1 V-1 $2,000 V-3 $2,000 V-6 3 $1,575 I-2 V-5 2 $ 3,000 V-6 10 $ 3,500 I-3 V-3 6 $ 1,000 I-4 V-1 2 $ 600 V-5 2 $ 300 I-5 V-3 2 $ 4,000 V-7 3 $ 3,000 I-6 V-2 2 $ 5,000 V-4 2 $ 5,000 V-5 2 $ 5,000 V-7 2 $ 5,000 Sales by Invoice Number Invoice Amount Customer Date Salesperson Number Number Number V-1 $ 7,200 C-1 July 1 S-12 V-2 $ 10,000 C-2 July 12 S-10 V-3 $ 16,000 C-5 July 22 S-10 V-4 $ 10,000 C- 2 July 26 S-10 V-5 $ 16,600 C-5 July 31 S-10 V-6 $ 35,000 C-3 August 1 S-10 V-7 $ 23,000 C-4 August 2 S-11 Sales by Salesperson Salesperson Quarterly Commission Rae Number Sales S-10 ? 0.10 S-11 0.10 S-12 9 .9 0.12 S-78 O 0.08Customer Payments Invoice Remittance Amount Nuinber Advise Number 39 7, 200 $ 16,600 Customer Data Customer Customer Name Accounts Salesperson Number Receivable Number Amount S-12 8-10 310 Answer the following Questions: 0 1) What is the total amount of sales on Invoice V-3? What was the name of customer that made that purchase? What items did this customer purchase and their quantities in that invoice? What are the prices for each item in that purchase? Customers can choose among one of three payment options: a) 5% discount if immediate cash payment. b) 2% discount off list amount if total invoice paid by the 15th day of the month following purchase c) Deferred payment plan, using 6 monthly payment 2) Which option does J.P Carpenter appear to be using in invoice V-2? 3) What is the quarterly sales amount for salespeople 8-10, S-1 1, and 8-12? 4) Assume that customers C-l through C-S began this quarter with net accounts receivable balances of zeros, what are their balances now? Part 3: Vertical Markets and Accounting Information Needs 0 There are many vertical markets industries apart from industries discussed in chapter 11. Identify ONE additional vertical markets industry and explain what are the unique characteristics of this industry that affect their AlSs