Name CHAPTER 7 - ASSIGNMENTS PART I QUESTIONS REVENUE CYCLE ACTIVITIES Q-7-1. Make a Credit Sale Required Fabrikam makes a credit sale to Advanced Paper Company. What is the series of navigation steps you should use to record the sale? 1. Sales Transactions Customer/Vendor Transactions 2. Sales 3. Sales Transactions Invoice Entry Transactions Sales Transaction Entry 4. Sales Cards Transaction Entry 5. Sales Cards Customer Q-7-2. Receive Goods on a Sales Return Required Which of the following statements is true concerning the process of recording a sales return? 1. The accounts receivable subsidiary records are updated at the time the Sales Transaction Entry Window is posted. 2. The credit to accounts receivable is recorded at the time the Sales Transaction Entry Window is posted. 3. The Sales Transaction Entry Window is used to apply the sales return to a specific invoice or invoices. 4. The Apply Sales Document Window is used to post the sales return to the General Ledger. 5. None of the above statements are true. DO NOT COPY COPYRIGHTED MATERIALS DO NOT COPY CHAPTER 7-Practice-Revenue Cycle Activities 7-19