Question: Mail Plus performs mailing services on account, so virtually all cash receipts arrive in the mail. Gina Star, the owner, has just returned from a

Mail Plus performs mailing services on account, so virtually all cash receipts arrive in the mail. Gina Star, the owner, has just returned from a meeting with new ideas for the business. Among other things, Star plans to institute stronger internal controls over cash receipts from customers.

Requirement

Assume you are Gina Star. Write a memo to outline procedures that will ensure

(1) all cash receipts are deposited in the bank

(2) all cash receipts are posted as credits to customer accounts receivable. Use the following format for your memo.

MEMO Date: To: From: Subject:

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