[MisterB]

Take orders in 07 - No ledger entry
Place production order - No ledger entry
Receive invoice for goods purchased- Debit Inventory/Work In Process Credit Accounts Payable - this would get booked at receipt of invoice
Shipment of Goods - Debit Accounts Receivable and Credit Revenue plus Debit Cost of Goods Sold and Credit Inventory - this would get booked when product ships to customer

When cash is paid for goods purchased Debit Accounts Payable and Credit Cash - this gets booked the date cash is received
When cash is received for payment of invoices issued to customer Debit Cash and Credit Accounts Receivable - this gets booked the date the check is cut and released