Immediately upon receipt of cash,a responsible employee should
A) Record the amount in the cash receipts journal.
B) Prepare a remittance listing.
C) Update the subsidiary accounts receivable records.
D) Prepare a deposit slip in triplicate.

Question

Quizplus · Accepted Answer

A remittance listing is prepared to document the receipt of cash, ensuring that all cash received is accounted for before it is recorded or deposited.

Immediately Upon Receipt of Cash,a Responsible Employee Should