The Bridge in Bridgehampton, N.Y., charged a whopping $750,000 to join, according to a 2007 Wall Street Journal article. Another Hamptons club, Sebonack Golf Club, billed new members for $650,000 when it opened in 2006, Bloomberg reported.
Hence, the revenue cycle actually consists of two major subsystems (assuming sales on credit basis): 1  the sales order processing system and. 2  the account receivable system.
ANS: sales order processing, cash receipts 7. What are the subsystems of the expenditure cycle? ANS: purchasing, cash disbursements, payroll 8. Most organizations have replaced the general journal with a _______________________________. ANS: journal voucher system 9.