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Carl Beers Enterprises manufactures and sells specialized electronic components to customers across the country The tables in Figure illustrate some of the records in its accounting databases

Carl Beers Enterprises manufactures and sells specialized electronic components to customers across the country. The tables in Figure illustrate some of the records in its accounting databases. Thus, for example, the ‘‘Sales by Inventory Number’’ records show detailed sales data for each of the company’s inventory items, and the ‘‘Customer Payments’’ records indicate customer cash payments, listed by invoice number. Use the information in these tables to answer the following questions.  Requirements 1. The ‘‘Sales by Inventory Number’’ records are listed by inventory item number. How is this useful? Why might this information also be useful if it were listed by invoice number instead of inventory number? 2. In the ‘‘Sales by Invoice Number,’’ invoice V-3 shows a sales amount of $16,000. What was the name of the customer that made this purchase? What specific inventory items did this customer purchase? How much did this customer pay for each item? 3. Customers can choose among one of three payment options: (1) 5% discount if immediate cash payment, (2) 2% discount off list amount if total invoice paid by the fifteenth day of the month following purchase, or (3) Deferred payment plan, using six monthly payments. Which option does J. P. Carpenter appear to be using for invoice V-2? 4. Using just the information provided, what are the quarterly sales amounts for salespeople S-10, S-11, and S-12? 5. Assume that customers C-1 through C-5 began this quarter with net a

Apr 09 2020 View more View Less

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