The recording responsibilities for cash receipts includes all of the following, except:
A)Maintaining a cash receipts journal
B)Updating accounts receivable records for individual customers
C)Posting subsidiary ledger totals to the general ledger
D)Preparing bank deposits

Question

Quizplus · Accepted Answer

The recording responsibilities for cash receipts includes maintaining a cash receipts journal, updating accounts receivable records for individual customers, and posting subsidiary ledger totals to the general ledger. However, preparing bank deposits is not a recording responsibility but it is related to the handling of cash receipts.

The Recording Responsibilities for Cash Receipts Includes All of the Following