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College Accounting, Chapters 1-27

23rd Edition
HEINTZ + 1 other
ISBN: 9781337794756

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BuyFindarrow_forward

College Accounting, Chapters 1-27

23rd Edition
HEINTZ + 1 other
ISBN: 9781337794756
Textbook Problem

PURCHASING DOCUMENTS AND FLOWCHART LABELING A partially completed flowchart showing some of the major documents commonly used in the purchasing function of a merchandise business is presented below. Identify documents 1, 3, and 4.

images

To determine

Label the documents (1), (3), and (4) in the purchasing process flowchart.

Explanation

Purchases: The amount of cost of merchandise bought during a certain period is referred to as cost of purchases.

Documents used in purchasing process:

  1. 1. Purchase requisition
  2. 2. Purchase order
  3. 3. Receiving report
  4. 4...

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