receivable Archives - NO GPT CHAT OR ANY AI

The sales and collection process generates revenue accounts receivable, and cash flow information for a firm’s financial statements

1. The sales and collection process generates revenue accounts receivable, and cash flow information for a firm’s financial statements. What other information do you think managers would like to collect?

2. What kinds of businesses collect cash before recording the corresponding sales? How would that different sequence affect internal control requirements?

3. Draw a basic sales activity model using BPMN for a fast-food restaurant. Draw a second basic sales activity model using BPMN for a traditional restaurant. Discuss similarities and differences. How would you add taking reservations to the second model?

7. From your experience, think about the sales process for an online or brick-and-mortar store. Describe some business rules that help provide internal controls over the process.

8. What classes and associations would be included in a model that describes the information needed for a query that calculates the accounts receivable balance for each customer? Describe differences in the information for the open-invoice method, where customers pay according to specific invoices, versus the balance-forward method, where customers pay balances on monthly statements?

GET THE COMPLETED ASSIGNMENT

ASSIGNMENT COMPLETED AT CapitalEssayWriting.com

MAKE YOUR ORDER AND GET THE COMPLETED ORDER

CLICK HERE TO ORDER THIS PAPER AT CapitalEssayWriting.com ON The sales and collection process generates revenue accounts receivable, and cash flow information for a firm’s financial statements

NO PLAGIARISM, Get impressive Grades in Your Academic Work

Lampu Terang Bhd factored with recourse RM150,000 of account receivable for a cash proceed of RM140,000 to the Adawiyah Bank Berhad

Lampu Terang Bhd factored with recourse RM150,000 of account receivable for a cash proceed of RM140,000 to the Adawiyah Bank Berhad. Adawiyah Bank Berhad withheld 8% of account receivable as protection against sales return and allowance. The difference between factored account receivable and cash proceed is considered as a finance charge.

Adawiyah Bank Berhad manage to collect RM136,000 of the factored account receivable, which include sales return and allowance of RM5,500. The remaining balance of account receivable is uncollectible. Settlement of factored accounts receivable as done on this date.

– journal entries for Lampu Terang Bhd