Question: The flowchart in Figure depicts part of a client s revenue

The flowchart in Figure depicts part of a client’s revenue cycle. Some of the flowchart symbols are labeled to indicate control procedures and records. For each symbol numbered1 through 13, select one response from the answer lists below. Each response in the lists may be selected once or not at all.

Answer Lists Operations and control procedures
a. Enter shipping data.
b. Verify agreement of sales order and shipping document.
c. Write off accounts receivable.
d. Send to warehouse and shipping department.
e. Authorize account receivable write- off.
f. Prepare aged trial balance.
g. Submit to sales department.
h. Release goods for shipment.
i. Submit to accounts receivable department.
j. Enter price data.
k. Determine that customer exists.
l. Match customer purchase order with sales order.
m. Perform customer credit check.
n. Prepare sales journal.
o. Prepare sales invoice.
Documents, journals, ledgers, and files
p. Shipping document
q. General ledger master file
r. General journal
s. Master price list
t. Sales journal
u. Sales invoice
v. Cash receipts journal
w. Uncollectible accounts file
x. Shipping file
y. Aged trial balance
z. Open orderfile

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  • CreatedFebruary 26, 2015
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