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PURCHASES ON ACCOUNT Receiving Accounting Purchase Order (Jim Adams) receive involo from vendor (Nancy Ford) (Nancy Ford) Receive goods from vendor/returns from Receiving report Receive

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PURCHASES ON ACCOUNT Receiving Accounting Purchase Order (Jim Adams) receive involo from vendor (Nancy Ford) (Nancy Ford) Receive goods from vendor/returns from Receiving report Receive oral customer 2 requisition See note Approved A below purchase order Vendor invoice Prepare Prepare prenumbered prenumbered receiving purchase report Note and resolve order differences in quantities and prices, adjust Receiving documents and receipt a Return report for initial invoice Purchase order 2 purchase or returned sale returned Purchase order sale ? Approved P.O. 2 Receiving report Purchase To A, D. 20 Vendor invoice Purchase order Receiving repor approved and for purchase signed by Purchases Kramer Make entry in journal purchases journal and acc. pay. sub pproved P.O. 2 VTC VTC ledger Accounts Approved payable purchase subsidiary order Prepare ledge fixed asset Yes sub. ledger acquisition record a fixed To supplier asset? (vendor) No Fixed asset File Description sub. ledger VT = Vendor, temporary, by due date record Approved P.O. VTC = Vendor, temporary, chronological Receiving report Note A Vendor To show evidence of a transfer of ownership, a copy of invoice a bill of lading normally would accompany goods received. This copy is not included for merchandise Documents received in this project because the document would attached together have been prepared by the vendor rather than any Waren personnel. However, a bill of lading is prepared for each of Waren's shipments to customers. VT 22 To B P. 23

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