Source Documents

Question 1

Receipt

Answer 1

To acknowledge payment received (cash or check) from customers after goods have been sold or services have been provided.

Question 2

Invoice

Answer 2

To inform credit customers of the amount owed for goods sold or services provided on credit.

Question 3

Credit note (COconut)

Answer 3

To inform credit customers of a reduction in the amount owed due to an overcharge or goods returned to the business.

Question 4

Debit note (DUrian)

Answer 4

To inform the credit customers of an increase in the amount owed due to an undercharge.

Question 5

Remittance advice

Answer 5

To inform credit suppliers that payment by cheque has been made for a specific invoice.

Question 6

Payment voucher

Answer 6

To inform the business of the payment to credit suppliers. It has to he approved by authorised personnel and supported by original suppliers invoice.

(Process a payment)

Question 7

Bank statement

Answer 7

It states the deposits and withdrawals made from the bank account and the remaining bank balance.