Chapter 2 Accounting Info System

The seller issues source documents to the buyer.

The buyer receives the ________ copy while the seller keeps a _________ so that both parties would be clear about the details of the transactions.

Joe sold goods on credit to Sam.

Name the source document Joe would issue to Sam.

• Receipt

• Debit note

• Credit note

• Invoice

Sam returned goods credit supplier.

Name the source document Sam would receive.

• Receipt

• Debit note

• Credit note

• Invoice

Sally received cash for sale of goods.

Name the source document Sally would issue.

• Receipt

• Debit note

• Credit note

• Invoice

Terry paid cheque to credit supplier for previous amounts owed.

Name all possible source document(s) for this payment.

• Remittance advice

• Debit note

• Credit note

• Invoice

• Payment voucher

Amount of goods purchased on credit was overcharged by supplier.

Name the source document used.

• Receipt

• Debit note

• Credit note

• Invoice

• Payment voucher

Sales to credit customers was undercharged.

Name the source document used.

• Receipt

• Debit note

• Credit note

• Invoice

• Payment voucher

Cheque received from credit customer.

Name the source document issued.

• Receipt

• Debit note

• Credit note

• Invoice

• Payment voucher

Cheque issued to supplier was returned unpaid by the bank.

Name the source document where the information of this transaction is found.

• Bank statement

• Debit note

• Credit note

• Receipt

• Payment voucher

The business paid the electricity bills by direct debit.

Select all possible source document(s) where the information of this transaction is found.

• Bank statement

• Debit note

• Credit note

• Receipt

• Payment voucher