4. SYSTEM FLOWCHART AP Using the format presented in Figure 2-4 in the text, develop a similar flowchart for the process of paying vendor accounts payable. The Process: Vendors send invoices to the AP department where they are reviewed and approved for payment. Once approved, the invoice and a cash disbursement voucher are sent to the cash dis- bursement department, where a check is prepared and sent to the vendor. A copy of the check, the invoice, and the voucher are returned to the AP department and filed.

4. SYSTEM FLOWCHART AP Using the format presented in Figure 2-4 in the text, develop a similar flowchart for the process of paying vendor accounts payable. The Process: Vendors send invoices to the AP department where they are reviewed and approved for payment. Once approved, the invoice and a cash disbursement voucher are sent to the cash dis- bursement department, where a check is prepared and sent to the vendor. A copy of the check, the invoice, and the voucher are returned to the AP department and filed.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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