Question: 7-11 and 7-12 thanks Obj. 2, 3 EX 7-11 Internal control of cash receipts The mailroom employees send all remittances and remittance advices to the

 7-11 and 7-12 thanks Obj. 2, 3 EX 7-11 Internal control7-11 and 7-12 thanks

Obj. 2, 3 EX 7-11 Internal control of cash receipts The mailroom employees send all remittances and remittance advices to the cashier. The cashier deposits the cash in the bank and forwards the remittance advices and duplicate deposit slips to the Accounting Department. A. B. How can the weakness be corrected? Indicate the weak link in internal control in the handling of cash receipts. Obj. 3 2 Entry for cash sales; cash short The actual cash received from cash sales was $61,355, and the amount indicated by the cash register total was $61,380. Journalize the entry to record the cash receipts and cash sales

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!