Reference no: EM13924288
Mister Rogers Industries specializes in manufacturing and selling low-end sweaters - the neighborly sort. Amazingly they manufacture and carry over 450 different types of neighborly sweaters - mostly red. The sales to cash collections cycle at Mister Rogers Industries is conducted by five employees. The five employees are the sales clerk, warehouse clerk, credit clerk, accountant, and the collection clerk. A description of their duties is as follows:
The sales clerk receives customer orders by phone. She prepares a four-copy sales order form. She files one copy, one copy goes to the warehouse clerk, one copy goes to credit clerk, and one copy is mailed to the customer.
After receiving a sales order, the warehouse clerk prepares a packing slip, takes the proper items from the warehouse, and ships them with the packing slip enclosed. The sales order is stamped with the ship date, and the shipping log is updated. The sales order is filed by customer number.
After receiving the sales order from the sales clerk, credit clerk reviews the customer records and either approves or disapproves customer credit. If he approves the customer's credit, he stamps the sales order "approved" and forwards it to the accountant. The, the credit clerk prepares a three-copy invoice. One copy is mailed to the customer, one copy is forwarded to the accountant, and one copy goes to the collection clerk.
The accountant matches the approved sales order to the invoice and files these by customer number.
After receiving a copy of the invoice, the collection clerk posts the sale to the sales journal and the accounts receivable subsidiary ledger. Daily totals from the sales journal are sent to credit clerk, and she posts these sales summaries to the general ledger.
A mail clerk forwards customer checks to the collection clerk. The collection clerk stamps the check "For Deposit Only" and records it in the accounts receivable subsidiary ledger. The check is also recorded in the cash receipts journal by the collection clerk. The collection clerk deposits checks in the bank account weekly. A weekly summary of cash receipts is forwarded to the accountant, and she records these summaries in the general ledger.
Requirements
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