Trapan Retailing, Inc. has decided to diversify operations by selling through vending machines. Trapan plans on purchasing
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Trapan Retailing, Inc. has decided to diversify operations by selling through vending machines. Trapan plans on purchasing 312 vending machines to be placed in 78 different locations within one city, and renting a warehouse to store merchandise. Trapan plans to vend canned beverages only.
Management has hired an inventory control clerk to oversee the warehousing functions and two truck drivers who will periodically fill the machines with merchandise and deposit cash collected at a designated bank. Drivers will be required to report to the warehouse daily.
Required:
What procedures will control the cash receipts and warehousing functions?
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