Assume the unit purchase price was $10 and the quantity purchased was 20 units. Enter the...
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Assume the unit purchase price was $10 and the quantity purchased was 20 units. Enter the balance (Not the change in value. Please put a credit balance in a parenthesis) in each of these accounts, in an ERP system (assuming the system is functioning well), after each step noted. MM Inv. GL Vendor Qty Cash GL Inv. GL AP GR/IR Subledger Before creating any 0 1000 0 0 0 0 purchase order Right after creating a purchase order Right after receiving product from vendor Right after receiving bill from vendor Right after cash disbursement to vendor Assume the unit purchase price was $10 and the quantity purchased was 20 units. Enter the balance (Not the change in value. Please put a credit balance in a parenthesis) in each of these accounts, in an ERP system (assuming the system is functioning well), after each step noted. MM Inv. GL Vendor Qty Cash GL Inv. GL AP GR/IR Subledger Before creating any 0 1000 0 0 0 0 purchase order Right after creating a purchase order Right after receiving product from vendor Right after receiving bill from vendor Right after cash disbursement to vendor
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