Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

T and B Limited is a large telecGadra plc sells a variety of electrical equipment on a wholesale basis to some 1,500 credit customers. Cash

T and B Limited is a large telecGadra plc sells a variety of electrical equipment on a wholesale basis to some 1,500 credit customers. Cash sales are not a feature of the business. Sales orders are received by telephone and are recorded on a pre-numbered order form in two parts. Part 1 is sent to the customer as acknowledgement of the order. Part 2 is used by the manager of the sales office as an action copy. He authorizes the order after checking the account balance with the accounts department to ensure that the credit limit is not exceeded. The order is then passed to the warehouse where the goods are picked and sent to dispatch. The order form is then passed to the invoice typing section in the sales office, and three-part invoice sets are typed. Each set is numbered by reference to a number register, and the top copy is given to the customer with the goods at the collection point. The second copy is an accounts copy and the third is filed in the customer file in the sales office. There are no other procedures in relation to sales order processing. Required 2.1. Identify at least 3

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting

Authors: Carl S Warren, James M Reeve, Jonathan Duchac

12th Edition

0538478519, 9780538478519

More Books

Students also viewed these Accounting questions

Question

1. Background knowledge of the subject and

Answered: 1 week ago

Question

2. The purpose of the acquisition of the information.

Answered: 1 week ago