Question No.1:- State which books of original entry the following transactions would be entered into: (a) ABC pays you $100 (b) You return goods to AB to the value of $100 (c) Customer AC returns goods to the value of $150 (d) You pay Jim $500 (e) You receive an invoice from A for $120 [...]
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Refer earlier article on the importance or role of source documents. Some of the main data sources and records in an accounting system comprise: • Sales Order • Purchase Order • Invoice • Credit note • Debit note • Goods received note The different function or role of each source document as follows: Sales order [...]
A source documnet is a WRITTEN document that provides details of a transaction and the evidence that the transaction has taken place. All accounting entries are based on information derived from the source documents. The importance of source documents cannot be neglected by the bookkeeper otherwise
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