Which of the following is the last step in the daily control over cash receipts by mail?
A)A mailroom employee sends all customer cheques to the treasurer,who has the cashier make the bank deposit.
B)The controller compares the records of the day's control total from the mailroom,the bank deposit amount from the cashier and the debit to cash from the accounting department.
C)A mailroom clerk opens the mail and sends the remittance advices to the accounting department.
D)The accounting department prepares journal entries to cash and the customers' accounts.

Question

Quizplus · Accepted Answer

The last step in the daily control over cash receipts by mail is for the controller to compare the records of the day's control total from the mailroom, the bank deposit amount from the cashier, and the debit to cash from the accounting department. This ensures that all cash receipts were recorded accurately and completely before the day's activities are closed out. Option A is incorrect because the treasurer doesn't make the bank deposit, but the cashier does. Option C is incorrect because it only covers the initial step of opening the mail and sending remittance advices to the accounting department. Option D is incorrect because it assumes that the control total, bank deposit amount, and cash debit have already been reconciled.

Which of the Following Is the Last Step in the Daily