Page 16 - CHAPTER 10 - THE REVENUE AND RECEIPTS CYCLE
P. 16

REVENUE AND RECEIPTS CYCLE





            AUDITING THE CYCLE – Always think debits and credits!















             Credit Sale                                  Receipt of                                   Writing of
                                             TO                                           OR
                                                          payment                                      bad debt


                   •Dr Debtors                                  •Dr Bank                                    •Dr Bad debts

                   •Cr Sales                                    •Cr Debtors                                 •Cr Debtors






















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