You are developing the policies and procedures in relation to credit sales. What processes would you include in relation to:

i.preparing invoices

ii.preparing journal entries for these invoices

iii.authorising these journal entries

iv.filing invoices for auditing purposes (this may be related to the invoice numbering system)?

Tip: the specific answers to these questions may not be completely found in the textbook. Use your learning and understanding of recording credit sales to arrive at your answers. Feel free to research other sources to assist you.For example, i) preparing invoices would include ensuring that an invoice contains an invoice number, company details, customer details, details of the good sold and credit terms.

i. preparing invoices

ii. preparing journal entries for these invoices

iii. authorising these journal entries

iv.filing invoices for auditing purposes (this may be related to the invoice numbering system).

8(g)Please complete the tax invoice based on the following sales details:

Sale of a quantity of 1,000 ABC books at $15 each (including GST) to Ben Smith (123 Smith St, Smithville 9015), on 30-day terms, based on order #236, invoice #89. Shipped on 16 June 2018 via Alpha Couriers.

ABC Books

12 Mountain Rd

Hill Top NSW 3101

ABN: 11 123 123 123

Tax Invoice No. 89

Date: .............................

To:

Your Order No:

Date Shipped:

Shipped Via:

Terms:

Quantity

Description

Price

Total (incl GST)