Match Seven of the Terms for Documents and Records (A-K)

question 83

Short Answer

Match seven of the terms for documents and records (a-k) with the descriptions provided below (1-7):
a. Customer order form
b. Sales order
c. Bill of lading
d. Sales invoice
e. Summary sales report
f. Accounts receivable master file
g. Monthly statement
h. Remittance advice
i. Prelisting of cash receipts
j. Credit memo
k. Uncollectible account authorization form
________ 1. A list prepared when cash is received by someone who has no responsibility for recording sales, accounts receivable, or cash, and has no access to the accounting records. It is used to verify whether cash received was recorded and deposited at the correct amounts and on a timely basis.
________ 2. A document indicating a reduction in the amount due from a customer because of returned goods or an allowance.
________ 3. A document prepared to initiate shipment of goods, indicating the description of the merchandise, the quantity shipped, and other relevant data. It is a written contract between the carrier and seller of the receipt and shipment of goods.
________ 4. A document for communicating the description, quantity, and related information for goods ordered by a customer. This is frequently used to indicate credit approval and authorization for shipment.
________ 5. A document mailed to the customer and typically returned to the seller with the cash payment.
________ 6. A document used internally to indicate authority to write-off an account receivable as uncollectible.
________ 7. A document or electronic record indicating the description and quantity of goods sold, the price, freight charges, insurance, terms, and other relevant data.

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Definitions:

Proportionate Shares

The allocation of benefits, responsibilities, or liabilities among parties in relation to their respective interests or contributions.

Priority

The status of having precedence or importance over others, often used in the context of orders of payment, task handling, or legal rights.

Security Interest

A legal claim or right granted by a borrower to a lender over the borrower's assets as collateral for the loan, ensuring repayment security.

Perfected

In legal and finance terms, a status indicating that an interest, often a security interest in property, is formally established and recognized.