Accounting source documents & Books of origianl entry & Ledgers

Question 1

What source document do we use when a Buyer orders goods

Answer 1

Purchase Order

Question 2

What source document do we use when the seller sends goods

Answer 2

Invoice

Question 3

What source document do we use when the seller accepts return of goods

Answer 3

Credit note

Question 4

What source document do we use when the seller reminds buyer of amount outstanding

Answer 4

Statement of account

Question 5

What source document do we use when The buyer sends payment

Answer 5

remittance advice

Question 6

What source document do we use when the seller gives this as a proof of payment by the buyer

Answer 6

Cash receipt

Question 7

State the Source document , Book of original entry and ledger (Double entry) we use when sell on creit.

Answer 7

Sales Invoice
Sales day book
DR: Trade receivable (RL)
CR: Sales day book (NL

Question 8

State the Source document , Book of original entry and ledger (Double entry) we use when we buy on credit

Answer 8

Purchases invoice
Purchases day book
DR: ordinary goods purchased (NL)
CR: Trade Payable (PL)

Question 9

State the Source document , Book of original entry and ledger (Double entry) we use when we have sales return

Answer 9

Credit note
Sales Return day book
DR: Sales returns (NL)
CR: Trade receivable (RL)

Question 10

State the Source document , Book of original entry and ledger (Double entry) we use when we have purchase returns.

Answer 10

Credit Note
Purchases return day book
DR: Trade Payable (PL)
CR: Purchases returns

Question 11

State the Source document , Book of original entry and ledger (Double entry) we use when have bank receipts/payments.

Answer 11

Bank Remittance advice
Cash Book (bank column)
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Question 12

State the Source document , Book of original entry and ledger (Double entry) we use when we have Cash receipts and payments.

Answer 12

Cash Receipts
Payment vouchers
Cash book (cash column)
Petty Cash Book