Read the following information to answer the following quest…
Read the following information to answer the following questions: The following information will be used to answer questions regarding the accounting journal entries that happen in the Customer Order Management process as it works in the SAP system. Financial related business transactions create an accounting entry in the general ledger. In the SAP system, this is referred to as accounting journal entries happening “behind the scenes” as business transactions happen. SAP’s automatic account assignment functionality helps facilitate this process. You work for XYZ Company, a company that manufactures motorcycles. The REV-U-Up model of motorcycle is in finished goods valued at $5,000 each. Motorcycle Mart, Inc. wants to buy 10 of your Rev-U-Up motorcycles. The sales price to Motorcycle Mart, Inc. for each motorcycle is $10,000. There are no tax implications and a 2% discount will be given for early payment by the customer within 10 days of the invoice date (2/10 Net 30). The gross method of accounting for discounts is used. The questions below will address the accounting related entry that happens when: a. Motorcycle Mart makes an RFQ (request for quotation) for 10 Rev-U-Up Motorcycles.b. A sales order is generated for Motorcycle Mart for 10 Rev-U-Up motorcycles.c. 10 Rev-U-Up motorcycles are shipped to the customerd. Motorcycle Mart is billed for the 10 Rev-U-Up motorcyclese. Motorcycle Mart pays for the 10 Rev-U-Up motorcycles. Answer these questions from the perspective of XYZ Company. What is the journal entry for (a.) when a customer makes an RFQ (request for quotation).
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