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1- In the expenditure cycle what is the best way to record the receipt of inventory? Do not use the classical way (record debit for an inventory and credit for the same amount for account payable). use the newest account information technology (double-entry accounting) Do we record the same amount in two different places. Are there journal entries for these transactions? Do you think using double-entry accounting is the best option? 2- Regarding to the question one, does our activity violate GAAP? Why or why not? 3- In the expenditure cycle, how can we be sure we do not pay for an item never received? 4- Compared to a computerized accounting system that merely emulated a manual system, with journal entries, subsidiary ledgers, general ledger, does the business events system take more storage space, or less? Does it take more time, or less to close the books monthly? Explain it in detail please. 1- In the expenditure cycle what is the best way to record the receipt of inventory? Do not use the classical way (record debit for an inventory and credit for the same amount for account payable). use the newest account information technology (double-entry accounting) Do we record the same amount in two different places. Are there journal entries for these transactions? Do you think using double-entry accounting is the best option? 2- Regarding to the question one, does our activity violate GAAP? Why or why not? 3- In the expenditure cycle, how can we be sure we do not pay for an item never received? 4- Compared to a computerized accounting system that merely emulated a manual system, with journal entries, subsidiary ledgers, general ledger, does the business events system take more storage space, or less? Does it take more time, or less to close the books monthly? Explain it in detail please

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