6 questions from this module, in a new order. No marks, but today counts.
1Tide Café's own records show credit note 51 but the statement does not. What should the café do?
The customer checks the statement against their own records. Any difference is queried before paying.
The seller's own record of this customer should show the same closing balance.
2Harbour Print has delivered the menus but has not yet sent the invoice. What is in its books for this sale so far?
Only some documents change what is owed. Those are the ones that go into the books.
A quotation, a purchase order and a delivery note do not change what is owed. They are kept, but not entered.
3Which of these call for a credit note? Tick every one that applies.
A credit note reduces what a customer owes. It is the opposite of an invoice.
An invoice is never rubbed out or changed. It is corrected with a credit note.
4Harbour Print makes a credit sale to Tide Café. Put the steps in the order they happen.
A credit sale is a sale where the customer pays later. Each step of it has its own document.
The documents are always raised in that order.
Tap the step that comes first.
5To Tide Café, what is invoice 2041?
One document, two businesses. To the seller it is a sales invoice. To the buyer it is a purchase invoice.
The seller's customer is a trade receivable. The buyer's supplier is a trade payable.
The seller collects the VAT from the customer and later pays it to HMRC. Until then the seller owes it, so it is a credit in the VAT account.
6Tide Café asks Harbour Print what 500 menus would cost. Which document does Harbour Print send back?