On Monday, May 1 at the beginning of class you need to hand in the answer to the Excercise that we did part of in class on 4/26.

• Answer all parts of E8.2
• Below, you will see the solution for E8.3.1.  Assuming that it is correct, answer E8.3.2 and E8.3.3

Receipt Table

Receipt#

Batch#

Date

Customer#

Invoice#

Check#

Amount

PostDt

GL Post Dt

General Ledger

Receipt#

General_Ledger_Account#

Amount

Comments: (a) The Customer# in the Cash_Receipt Table is necessary if the Invoice# was not indicated on the remittance advice. (b) Since the debit will always be to cash, instead of creating a General_Ledger_Distribution Table, the account number of the account to credit could be included in the Cash_Receipts Table.  However, this would make it difficult to record two credits (e.g.,  to accounts receivable and sales discounts).
 

• Answer all three parts for E8.5.

• You do not have to type up your answers but they do need to be legible.You can do the assignment in groups of up to 3 students.  Each group should hand in a single document with each team members' name listed.  This assignment will be worth 3 points of the class total. The point is for you to practice and I expect most of you to do very well!