QUESTION 1 36 points Saving Answer Many business events are recorded in the GL f

Question

QUESTION 1 36 points Saving Answer Many business events are recorded in the GL from feeder processes. The first list below identifies eight business events. The second list specifies five feeder processes. Match the events with the processes. Each process may have one or more event specified. Some events may not be used Sales order is received from a customer Inventory is sold to a customer. Inventory is received from a vendor Inventory is returned from a customer Cash is disbursed for inventory purchase Bad debts are written off Order-to-Cash or Revenue Cycle Production Process Payroll Process Purchase-to-Pay Process Cost Accounting Process Business Reporting Process ?. G Employer taxes are accrued Cash is received from a sale Employer taxes are deposited

Explanation / Answer

Solution:

1. Sales order is received from a customer - Order to cash or revenue cycle

2. Inventory is sold to a customer - Order to cash or revenue cycle

3. Inventory is received from vendor - Purchase-to-pay Process

4. Inventory is returned from a customer - Order to cash or revenue cycle

5. Cash is disbursed for inventory purchase - Purchase-to-pay Process

6. Bad debts are written off - Order to cash or revenue cycle

7. Employer taxes are accrued - Payroll process

8. Cash is received from sale - Order to cash or revenue cycle

9. Employer taxes are deposited - Payroll Process

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