For each of the business events listed in the following table, (1) identify the business process for the event in a process-based approach and (2) identify the traditional accounting cycle(s) for the event. For non-accounting events, use "not applicable" where necessary." Business Event 1. Ship goods to credit customer 2. Pay hourly employees for the week 3. Sell goods for cash 4. Order a new factory machine 5. Receive raw materials from vendor 6. Receive payment from credit customer 7. Take out a loan to pay for new factory machine Business Process Approach Acquisition and payment Conversion Sales and collection > > Traditional Accounting Cycle(s)