Explain the recording of transactions in the double-entry system. Discuss the principles of debits and credits and how they are applied to different types of accounts. Discuss how the double-entry system ensures that every transaction has an equal debit and credit.

How do you know which account debits and credits go in?  How do you log into the general journal? General ledger? How do you do the income statements and balance sheets?

Summarize the procedures to follow when accepting credit cards, bill-to-accounts, cash, checks, and traveler’s checks as methods of payment.

Subject: Accounting Information SystemQuestion: What would be the correct system flowchart for this given process: Accounts Payable and Cash Disbursement Process:Vendors send invoices to the AP department where they are reviewed and approved for payment. Once approved, the invoice and a cash disbursement voucher are sent to the cash disbursement department, where a check is prepared and sent to the vendor. A copy of the check, the invoice, and the voucher are returned to the AP department and filed.