This material may consist of step-by-step explanations on how to solve a problem or examples of proper writing, including the use of citations, references, bibliographies, and formatting. This material is made available for the sole purpose of studying and learning - misuse is strictly forbidden.Answer 2.3:
a. In case of making purchases, the manufacturing department issues a purchase requisition to the purchase department. In the next step, the purchase department creates a purchase order and sends it to the vendor. In the third step, the purchase is recorded in the journal. It is initially a credit purchase and the vendor sends the invoice to the company. The accounts affected are accounts payable and purchases. When the goods are delivered, the purchase department sends a receiving report to the finance department and also mentions cases of any returns. ...