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Statement of account

This statement is an account of the transactions that took place over the month of May between Seymore Furniture Ltd. and their customer, C. R. Mendez. You will see that a debit note (D/N 311) and a credit note (C/N C517) are listed as well as the invoices they corrected. There are also two payments which are listed here as cash, although the word cheque is also used in this context.

Questions

1. Is there an allowance for payment within a certain time?

2. How much did C. R. Mendez owe at the beginning of this month?

3. How much was the error in Mendez' favour?

4. What did Mendez pay during the month?

5. How will his 1 June statement open?

6. What was the total amount of Mendez' purchases during May?

 

STATEMENT SEYMORE FURNITURE Ltd. Tib Street, Maidenhead, Berks. SL6 5D2 Telephone 0628 26755 Registered No. 18514391 London VAT No. 231 618831   C.R. Mendez SA 31 May 20— Avda del Ejercito 83 E-48015 Bilbao
Date Item Debit Credit Balance
20—   1 May 2 " 8 " 12 " 14 " 20 " 25 "     Account Rendered Inv. L 8992 D/N 311 Cash Inv. L 8995 C/N Ñ 517 Cash £     60.00 12.00   720.00 £     100.00   40.00 600.00 £   270.00 330.00 342.00 242.00 962.00 922,00 322.00
E. & Î. Å. Cash Disc. 3% if paid within 7 days

 

F. Lynch & Co. Ltd.

(Head Office), Nesson House, Newell Street, Birmingham B3 3EL

Telephone No. 021 236 6571 Fax: 021 2368592 Telex: 341641

 

Satex S.p. A. Your Ref: ---

Via di Pietra Papa Our Ref: Order 14463

00146 Roma 16 June 20—

ITALY

 

Attn, Mr D, Causio

Dear Mr Causio,

Thank you for being so prompt in sending the documents for our last order, No. 14463. We have accepted the sight draft, and the bank should be sending you an advice shortly.

We have been dealing with you on a cash against documents basis for over a year and would like to change to payment by 40-day bill of exchange, documents against acceptance.

When we first contacted you last February you told us that you would be prepared to reconsider terms of payment once we had established a trading association. We think that sufficient time has elapsed for us to be allowed the terms we have asked for. If you need references, we will be glad to supply them.

As we will be sending another order within the month, could you please confirm that you agree to these new terms of payment?

Yours sincerely,

L. Crane

Chief Buyer

 

6.3.4

Advice of payment

This letter continues the correspondence at 3.3.4 (enquiry), 4.3.5 (reply and quotation), 5.4.1 (order) and 5.4.3 (acknowledgement of order). The customer, Mr Crane of F. Lynch & Co., uses this confirmation of payment to ask for the terms of payment to be revised (see also 8.3); if you look back to 4.3.5, you will see that Satex S.p.A. did in fact say that they would review the terms after a while. Notice how the letter begins with confirmation of payment, then states the present arrangement, and finally makes the next order subject to Mr Causio accepting the new terms. The letter is firm, but still polite.



 

6.3.5

Advice of payment

This letter continues the correspondence at 3.3.3 (enquiry), 4.3.3 (reply), 5.4.5 (order), 5.4.6 (advice of despatch) and 6.3.2 (invoice). MacKenzie Bros, use the letter both to confirm payment and to make a complaint about the packing (see also Unit 7 Complaints and adjustments). Note that MacKenzie Bros, will accept either replacements for the broken crockery or a credit note. Glaston Potteries will claim on their insurance company for the breakages, although they might not get compensation as they have been negligent in their packing.

 


Date: 2016-01-03; view: 935


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