The Purchase Order and Shipment Receipt tables from an AIS are partially represented below. Refer to these tables for questions 5-6. Purchase Orders Shipping Receipts PO# Date Total Rec# Date PO# 578 5/1/2018 $987.65 922 5/3/2018 578 579 5/15/2018 $834.23 923 5/17/2018 579 580 5/18/2018 $562.11 924 5/31/2018 581 5. Assume all records for May 2018 are entered. A reconciliation between the PO and Shipping Receipt tables could help discover which of the following? A. A supplier sends an invoice, but payment is not made on time. B. A supplier fails to send goods for a purchase order. C. A supplier invoices for a greater quantity than the shipment. D. A supplier invoices at a higher price than negotiated in the PO. 6. When the invoice is received for PO# 578, what data should be matched before payment? A. The quantity from the PO to the quantity in the Shipping Receipts table. B. The quantity from the PO to the quantity on the invoice. C. The quantity from the Shipping Receipts table to the quantity on the invoice. D. All of the above.

The Purchase Order and Shipment Receipt tables from an AIS are partially represented below. Refer to these tables for questions 5-6. Purchase Orders Shipping Receipts PO# Date Total Rec# Date PO# 578 5/1/2018 $987.65 922 5/3/2018 578 579 5/15/2018 $834.23 923 5/17/2018 579 580 5/18/2018 $562.11 924 5/31/2018 581 5. Assume all records for May 2018 are entered. A reconciliation between the PO and Shipping Receipt tables could help discover which of the following? A. A supplier sends an invoice, but payment is not made on time. B. A supplier fails to send goods for a purchase order. C. A supplier invoices for a greater quantity than the shipment. D. A supplier invoices at a higher price than negotiated in the PO. 6. When the invoice is received for PO# 578, what data should be matched before payment? A. The quantity from the PO to the quantity in the Shipping Receipts table. B. The quantity from the PO to the quantity on the invoice. C. The quantity from the Shipping Receipts table to the quantity on the invoice. D. All of the above.

Financial Accounting

15th Edition

ISBN:9781337272124

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter5: Accounting Systems

Section: Chapter Questions

Problem 11E: Using the following purchases journal, identify each of the posting references, indicated by a...

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