Instructions You are the accountant for the KK2 Homeowners’…

You are the accountant for the KK2 Homeowners’ Association. You receive a message that a late notice for homeowner association dues was sent to Bill Morris by the KK2 Homeowners’ Association Treasurer, Mrs. Betty Yugo.
Mrs. Yugo uses an Accounts Receivable Report that you prepare as a basis for sending past-due notices. The last date to pay dues without a late fee was January 15, at the KK2 Homeowners’ Association’s Annual Meeting.
The past-due notice sent to Mr. Morris contained a REQUEST for IMMEDIATE PAYMENT OF $55, the annual homeowner’s association dues of $45, plus a $10 late fee.
When you checked the accounting records, you discovered that Mr. Morris paid $90 in annual homeowner dues on December 30, the previous month, which is before the due date. The payment resulted in his account having a credit balance of $45 since he paid dues for the current year plus next year.
You have verified that the accounting records are correct. The Accounts Receivable Report you gave to Mrs. Yugo at the January 15 annual meeting (the report is attached) notes the correct ending balances.
Write a memorandum to Mrs. Betty Yugo covering the following:
Make her aware of the error that was made
Explain the meaning of the schedule to help her better understand the report and what the numbers mean

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