Selected Balances from the General Ledger of the All Star

question 81

Essay

Selected balances from the general ledger of the All Star Video Rentals on July 31, 2019, are listed below. Use the appropriate data to prepare the Revenue section of the firm's income statement for the month ended July 31, 2019.
$\begin{array}{l|l}\text { Accounts Receivable } & \$ 12,500 \\\hline \text { Sales Tax Payable } & 1,475 \\\hline \text { Sales } & 32,500 \\\hline \text { Sales Returns and Allowances } & 3,100\end{array}$

Identify the procedures and significance of a voucher system in accounting for payables.

Interpret the meaning of the Cash Short and Over account and its implications.

Identify good practices in internal control over cash payments.

Learn the impact of Sarbanes-Oxley Act specifically on public companies.

---

Definitions:

Disaster Survivors

Individuals who have lived through catastrophic events and may require various forms of support to recover and rebuild their lives.

Social Workers

Professionals dedicated to helping individuals, families, and groups improve their well-being and solve personal and societal problems.

Protective Services

Services designed to ensure the safety and welfare of individuals, especially children, the elderly, and vulnerable adults, against harm or abuse.

Maltreatment

Harsh or cruel treatment, often resulting in physical, psychological, or sexual harm or neglect.