Upon receipt of customers' checks in the mail room,a responsible employee should prepare a remittance list that is forwarded to the cashier.A copy of the listing should be sent to the
A) Internal auditor to investigate the list for unusual transactions.
B) Treasurer to compare the list with the monthly bank statement.
C) Accounts receivable bookkeeper to update the subsidiary accounts receivable records.
D) Entity's bank to compare the list with the cashier's deposit slip.

Question

Quizplus · Accepted Answer

The remittance list contains information about the customers' payments which need to be recorded in the subsidiary accounts receivable records. Therefore, a copy of the listing should be sent to the accounts receivable bookkeeper to update the records. The internal auditor usually does not get involved in routine processes like handling customer payments or preparing remittance lists. The treasurer's role is to manage the entity's cash and investments, not to compare remittance lists with bank statements. While it is important for the bank to receive information about deposits, it is not necessary for them to compare the list with the cashier's deposit slip.

Upon Receipt of Customers' Checks in the Mail Room,a Responsible