Fill in the missing information concerning how companies control cash received by mail.

Question Fill in the missing information concerning how companies control cash received by mail.

a. The ________ opens the mail and sends customer checks to the treasurer.

b. The ________ deposits the customer checks in the bank.

c. The ________ uses the remittance advices to record the journal entries for cash receipts.

d. The ________ compares the bank deposit to the journal entry for cash receipts.

Expert Solution

Step 1: Definition of the treasurer

A treasurer is a person who manages the financial assets and liabilities of the company.

Step 2: The blank space is filled with

The mailroom employee is the person who opens the mail and sends checks to the treasurer.

The cashier is the person who deposits the customer checks in the bank.

The accounting department uses remittance advice to record the journal entries for cash receipts.

The controller compares the bank deposit to the journal entry for cash receipts.

The blank space of the first part is filled with mailroom employees.

Komal Hooda answered 2 years ago

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