. Accountry 748 Flow Hartaq EXERCISE At Waterloo Industries, the revenue processes are conducted by five employees. The five employees are the sales clerk, warehouse clerk, accountant 1, accountant 2, and the collection clerk. A description of their duties is as follows: a. The sales clerk receives customer orders by phone. She or he prepares a four-copy sales order form. One copy is filed, one copy goes to the warehouse clerk, one copy goes to accountant 1, and one copy is mailed to the customer. b. After receiving a sales order, the warehouse clerk prepares a packing slip, takes the proper items from the warehouse, and ships them with the packing slip enclosed. The sales order is stamped with the ship date, and the shipping log is updated. The sales order is filed by cus- tomer number c. After receiving the sales order from the sales clerk, accountant 1 reviews the customer records and either approves or disapproves customer credit. If he approves the customer's credit, he stamps the sales order approved" and forwards it to accountant 2. Accountant 1 prepares a 1 three-copy invoice. One copy is mailed to the customer, one copy is forwarded to accountant 2, and one copy goes to the collection clerk. d. Accountant 2 matches the approved sales order to the invoice and files these by customer number. e. After receiving a copy of the invoice, the collec- tion clerk posts the sale to the sales journal and the accounts receivable subsidiary ledger. Daily totals from the sales journal are sent to account- ant 1, who posts these sales summaries to the general ledger f. A mail clerk forwards customer checks to the collection clerk. The collection clerk stamps the check "For Deposit Only" and records it in the accounts receivable subsidiary ledger. The check is also recorded in the cash receipts journal by the collection clerk. The collection clerk deposits checks in the bank account weekly. A weekly summary of cash receipts is forwarded to accountant 2, who records these summaries in the general ledger Assegumaw i Prepare THE WATER LO SN DUTRIES Sthes aud 200 SA Collections Document Flow CHAST