Bill Barnes and Tom Freeman opened their BSN bicycle shop in 2005. Not counting Jake-a friend who
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Bill and Tom are more friends and bicycling enthusiasts than businessmen. They've pretty much sunk their life savings into the shop and are anxious that it succeed. In the first year of operations, they worked hard to convert the space into its present condition, which includes an old-timey sign above the door with their name ''BSN Bicycles.'' With all the other work that had to be done the first year, marketing efforts have been limited to chatting with friends, distributing flyers at bicycle races and similar sporting events, and placing a few advertisements in the local newspaper. Similarly, the owners haven't paid much attention to accounting tasks. Who has time with all the other things that had to get done? But at least two things are now clear to the owners:
(1) Some of their loyal customers prefer to buy items on credit, and
(2) All of their suppliers want to be paid on time. Right now, BSN's customer credit system is a box of 3 Ã 5 cards. Each handwritten card contains customer information on the front and invoice information on the back
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Related Book For
Core Concepts of Accounting Information Systems
ISBN: 978-1118022306
12th edition
Authors: Mark G. Simkin, Jacob M. Rose, Carolyn S. Norman
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