Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

In a merchandising firm, authorization for the payment of inventory is the responsibility of * purchasing inventory control cash disbursements accounts payable The receiving

image text in transcribedimage text in transcribedimage text in transcribed

In a merchandising firm, authorization for the payment of inventory is the responsibility of * purchasing inventory control cash disbursements accounts payable The receiving report is used to * advise general ledger of the accounting entry to be made advise the vendor that the goods arrived safely accompany physical inventories to the storeroom or warehouse advise the purchasing department of the dollar value of the goods delivered

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting Theory

Authors: William R. Scott

7th edition

132984660, 978-0132984669

More Books

Students also viewed these Accounting questions

Question

How is vacation and sick time accrued?

Answered: 1 week ago

Question

16 What did the Merchantilists think?

Answered: 1 week ago

Question

11 What is direct investment?

Answered: 1 week ago

Question

4 What are a countrys terms of trade?

Answered: 1 week ago