Cash receipts by mail require only two people: One to open the mail and a second person to deposit the cash in the bank and record the cash receipt in the accounting records.

Question

Quizplus · Accepted Answer

In addition to opening the mail and depositing the cash, a third person should be involved in reconciling the bank statement to ensure all deposits were made and recorded accurately in the accounting records.

Cash Receipts by Mail Require Only Two People: One to Open