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College Accounting, Chapters 1-27

23rd Edition
HEINTZ + 1 other
ISBN: 9781337794756

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Chapter
Section
BuyFindarrow_forward

College Accounting, Chapters 1-27

23rd Edition
HEINTZ + 1 other
ISBN: 9781337794756
Textbook Problem

You have a part-time job as a bookkeeper at a local office supply store. The accounting records consist of a general journal and general ledger. The manager is concerned about efficiency and feels that too much time is spent recording transactions. In addition, there sometimes is difficulty determining the amount owed to specific suppliers. The manager knows you are an accounting student and asks for your suggestions to improve the accounting function.

  Write a memo to the manager describing how to increase efficiency and accuracy by using different accounting records.

To determine

Write a memo to the manager explaining how to increase efficiency and accuracy using different accounting records.

Explanation

MEMO

Date:        April 04, 2019

To:        Manager

From:        XYZ

Subject: Explain how to increase efficiency and accuracy using different accounting records.

    In order to improve efficiency, special journals can be used instead of a general journal. Apart from a general ledger, an accounts payable ledger can be used to increase the accuracy of the supplier’s records...

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