The steps for buying merchandise from a company may include the following: a. The requesting department prepares

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The steps for buying merchandise from a company may include the following:

a. The requesting department prepares a purchase requisition.

b. The purchasing department prepares a purchase order.

c. Seller receives the order and prepares a sales invoice (a purchase invoice for the buyer).

d. Buyer receives the goods and prepares a receiving report.

e. Accounting department verifies and approves the invoice for payment. LO.1

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College Accounting A Practical Approach Chapters 1-26

ISBN: 9780130911421

8th Edition

Authors: Jeffrey Slater

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Question Posted: Jul 01, 2024 03:03 AM

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The steps for buying merchandise from a company may include the following: a. The requesting department prepares

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College Accounting A Practical Approach Chapters 1-26

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