Explain what is the actual bobo bars accounts receivable

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Reference no: EM1368345

Assume Salto's existing information systems are in place. The company has a customer called BoBo Bars, Inc. Here is the background data for both companies:

Salto system info:

Today's date: 4/20/2012

Current list price, bars: 1.00/bar

Accounts receivable balance at start of business day, BoBo Bars, Inc., as shown on the list available in Marketing: $15,000

Credit Limit, BoBo Bars, Inc.: $17,000

An order has come in from BoBo Bars:

Product: ?DTB (Double Tasty Bars)

Amount: 10 cases (288 bars/case)

Price: List

Ship to: BoBo Bars headquarters

Date desired: 4/25/2012

Next invoice number: A1200

Customer Purchase Order Number: YBI 1003

There are some documents in Salto's system as follows-

Purchase order YBI 988 for 3 cases (864 bars) of DTB. This order is in the Salto's sales order-entry program, but Accounting has not been told about it yet.

A check from BoBo Bars for $5,184 was received in yesterday's mail and entered into Accounting's Peachtree program. The check applies to some March 2012 orders. The list of accounts receivable balances that Marketing uses does not reflect this payment.

a. Given the state of Salto's systems, will credit be granted or denied on the current order (purchase order DTB 1003)?

b. What is the actual BoBo Bars accounts receivable balance (without considering the current order)?

c. If the Salto systems processed transaction data in a more timely way would credit be granted or denied? Why?

Reference no: EM1368345

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