In addition to reading Chapters 1, 3 and 4 for Wednesday, please complete the first two transactions. I recommend reading first to get a basic understanding of the business processes.
The transactions are (from the BLUE transactions list (Document No. 1))
December 16 Received validated deposit receipt
Carefully read the transaction, then follow the appropriate portion of the flow chart---the very far right column on page 21. (The actual deposit was made "a few days ago" and we are just now getting the receipt---so the journal entry has already been recorded.)
December 16 Ordered inventory
Carefully read the transaction, then follow the appropriate portion of the flow chart---the very far left column on page 22---NOTE there will be a break in time after you order the goods so Nancy will fill out the purchase order, Ray will approve it, and then you will file appropriately and then STOP---you won't receive the goods for a few days so NO JOURNAL ENTRY WILL BE MADE. Again, you will not start the "Receiving" column, because you have not received the goods yet (See December 22).
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