When a company receives cash by mail:
A) all incoming mail containing cash receipts should be opened by the accounting department.
B) the mailroom sends all customer checks to the internal audit department.
C) the remittance advice goes to the accounting department for preparation of the journal entries.
D) the bank deposit is prepared by the mail room.

Question

Quizplus · Accepted Answer

The remittance advice is used by the accounting department to prepare journal entries, ensuring accurate recording of cash receipts.

When a Company Receives Cash by Mail