Draw an entity-relationship diagram to illustrate the data structures required for the expenditure and revenue cycle. Regular
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Draw an entity-relationship diagram to illustrate the data structures required for the expenditure and revenue cycle.
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Regular Sales. The Wooden Nickel has yearly sales of between $700,000 and $800,000. The store generates from 50 to 70 sales tickets each day, with an average of 2 items per ticket. The daily sales process is discussed in detail below. While the majority of the customers pay by cash, cheque, or credit card, they do have approximately 500 charge customers. Historically, K. has allowed only customers he knows personally to open charge accounts. The store has no established policy for charge customers. When a customer wishes to make a sale, the customer can give the merchandise to any available salesclerk or take it to the cash register station. The salesclerk completes two copies of a pre-numbered sales ticket. If a bank card is being used, a three-part bank card receipt is also completed. The transaction is then entered into the cash register by transaction type: Cash key. The sales ticket is validated on the back with the date and amount. Credit key/charge account. The sales ticket is validated as above. Check key. The sales ticket and the check are validated. Bank card key. Bank card receipt is validated. The first copy of the sales ticket (and bank card receipt if applicable) is given to the customer. The second copy is placed in the cash register. The third copy of the bank card receipt is filed by date in the back office. The top copy of the sales ticket is presented in Fig. 2, and the bank card receipt is presented in Fig. 3. Layaway (Layby) Sales. When a customer chooses to put an item on layaway, a special layaway form is completed (see Fig. 4). A minimum down payment of 25% is required to hold the merchandise. The balance is due in three equal payments over the next three months. The sale is entered using the layaway key on the register, and the form is validated with the date and amount. The cash deposit is included in the daily sales and handled as described in the sales cycle. Sales Returns. The store's policy is never to give a cash refund when the item was paid for by cash or cheque. Instead, it issues a credit for the merchandise that has been returned. A three-part sales ticket is prepared and marked as a return. If the original sale was made on account, only two copies are prepared. If the merchandise was purchased on a credit card, then the refund is made through the credit card. In this case, a bank card credit receipt must also be prepared. 225 S. KNOBLOCK Customer Sold by WOODEN NICKEL Qty. STELWATER, OKLAHOMM 74074 Cash Description No CASH RETURIS harge SALES TAX Joul Figure 2 Example Sales Ticket On Act 48598 Price 377-8808 19. Paid Out Amount Regular Sales. The Wooden Nickel has yearly sales of between $700,000 and $800,000. The store generates from 50 to 70 sales tickets each day, with an average of 2 items per ticket. The daily sales process is discussed in detail below. While the majority of the customers pay by cash, cheque, or credit card, they do have approximately 500 charge customers. Historically, K. has allowed only customers he knows personally to open charge accounts. The store has no established policy for charge customers. When a customer wishes to make a sale, the customer can give the merchandise to any available salesclerk or take it to the cash register station. The salesclerk completes two copies of a pre-numbered sales ticket. If a bank card is being used, a three-part bank card receipt is also completed. The transaction is then entered into the cash register by transaction type: Cash key. The sales ticket is validated on the back with the date and amount. Credit key/charge account. The sales ticket is validated as above. Check key. The sales ticket and the check are validated. Bank card key. Bank card receipt is validated. The first copy of the sales ticket (and bank card receipt if applicable) is given to the customer. The second copy is placed in the cash register. The third copy of the bank card receipt is filed by date in the back office. The top copy of the sales ticket is presented in Fig. 2, and the bank card receipt is presented in Fig. 3. Layaway (Layby) Sales. When a customer chooses to put an item on layaway, a special layaway form is completed (see Fig. 4). A minimum down payment of 25% is required to hold the merchandise. The balance is due in three equal payments over the next three months. The sale is entered using the layaway key on the register, and the form is validated with the date and amount. The cash deposit is included in the daily sales and handled as described in the sales cycle. Sales Returns. The store's policy is never to give a cash refund when the item was paid for by cash or cheque. Instead, it issues a credit for the merchandise that has been returned. A three-part sales ticket is prepared and marked as a return. If the original sale was made on account, only two copies are prepared. If the merchandise was purchased on a credit card, then the refund is made through the credit card. In this case, a bank card credit receipt must also be prepared. 225 S. KNOBLOCK Customer Sold by WOODEN NICKEL Qty. STELWATER, OKLAHOMM 74074 Cash Description No CASH RETURIS harge SALES TAX Joul Figure 2 Example Sales Ticket On Act 48598 Price 377-8808 19. Paid Out Amount
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Answer rating: 100% (QA)
ANSWER An Entity Relationship ER Diagram is a type of flowchart that illustrates how entities such as people objects or concepts relate to each other ... View the full answer
Related Book For
Discrete Mathematics and Its Applications
ISBN: 978-0073383095
7th edition
Authors: Kenneth H. Rosen
Posted Date:
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