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.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![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.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F0655ed7c-bc22-4e18-8ac6-b1f1be9c4193%2F79f2034d-c3e0-411a-b492-93e6799060a5%2Fp0dksld.jpeg&w=3840&q=75)
Transcribed Image Text: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.
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