Course: Integrated Enterprise Systems Q. An inventory of cheddar cheese (Craft)
ID: 2579804 • Letter: C
Question
Course: Integrated Enterprise Systems
Q. An inventory of cheddar cheese (Craft) is low in Hyper Panda at King Fahad rd. branch in Riyadh, therefore it is necessary to purchase more cheddar cheese. So, the procurement department has contacted the local supplier of Craft in Saudi Arabia and purchased a quantity of 1000 Craft cheese can with a price of
3 SAR/ cheese can. Hint: (3X1000= 3000 SAR).
Record financial impacts of goods receipt, invoice verification, and payment processing by using the T-accounts?
*The answer should not be long and it must be unique not plagiarized. Please make sure that the answer can be copied and paste into Microsoft Word Not a Picture.
Explanation / Answer
Purchase A/c Date Particulars Amount Date Particulars Amount 1 To Accounts Payable 3000 2 By Profit and Loss A/c 3000 3000 3000 Account Payable Date Particulars Amount Date Particulars Amount 2 To Cash 3000 1 By Purchases A/c 3000 3000 3000