Bell causes entire screen to flash white
Since I don't have a broken audio card and VMs apparently don't work with a virtual sound device (pun not intended but it got one - maybe I made a mistake installing Soundflower) I can't really prove it, but the following should work:


Download Soundflower 2.0b2 (for 10.8, 10.9, 10.10)
or download Soundflower 1.6.3 (tested with 10.7)
or download and compile the Soundflower sources
Install Soundflower and reboot your Mac
Set the Soundflower device as default audio output for alerts/sound effects with the Audio-MIDI-Setup tool (found in /Applications/Utilities).