Answer all parts of Question 4 pretending that you are a student in CUNYfirst Fr

ID: 388785 • Letter: A

Question

Answer all parts of Question 4 pretending that you are a student in CUNYfirst

From an accounting perspective what are you in CUNYfirst?

When you look at your billing and payments record, what kind of subsidiary ledger are you looking at?

When you (or financial aid) pay your fees what records and accounts are likely to be updated?

How does CUNYfirst apply credit control over your account?

What controls can you identify to make sure that your records are accurate in CUNYfirst

What is the equivalent of a product list and price list in CUNYfirst, and what kind of file would this be kept in (Master or transaction)

What kind of file are your personal details kept in (Master or transaction)

1)From an accounting perspective, I am a buyer/customer providing revenue to CUNY

2) Accounts payable ledger as I need to pay to enroll as a customer

3) In the books of accounts, the Accounts receivable would be credited. and assuming cash is paid, the cash would be debited.

4) By having an interest payable by the student in case of EMI payment option.

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