The document that is used to prepare and reconcile the deposit of cash and improve control over the custody of assets (cash)is the
A)sales invoice.
B)credit memo.
C)remittance advice.
D)cash receipts journal.

Question

Quizplus · Accepted Answer

Remittance advice is a document sent by a customer to a supplier to inform the supplier that their invoice has been paid. It is used in the process of reconciling the deposit of cash, as it helps businesses track which invoices have been paid and improve control over the custody of cash assets by providing a record of payment.

The Document That Is Used to Prepare and Reconcile the Deposit