11. Select a sample of receiving reports issued during the year and trace to vendors’ invoices and entries in the acquisitions journal.
a. Compare type of merchandise, name of vendor, date received, quantities, and amounts.
b. If the transaction is in the acquisitions journal as paid, Trace check number to entry in cash disbursements journal. If unpaid, investigate reasons.
c.Trace transactions to accounts payable master file, comparing name, amount and date.