Accounts in the acquisition and payment cycle Cash in bank Raw material purchases Accounts payable FIGUrE 18- Acquisitions Purchase returns Property, plant, and allowances and equipment di Purchase discounts Prepaid expenses Manufacturing expense Selling expense Administrative expense control account control account control account Subsidia Commissions Travel expense Officers travel Repair and maintenance livery expense Legal fees Ing reight in @2000 Prentice hall. IncArens, Loebbecke; Auditing, 8/E ©2000 Prentice Hall, Inc. FIGURE 18 -1 Accounts in the Acquisition and Payment Cycle