One method of establishing proper internal control over collections of accounts receivable is to:

Question

Quizplus · Accepted Answer

Establishing a bank lock box ensures that all payments made on accounts receivable go directly to a bank account instead of being handled by the company first. This reduces the risk of mishandling or misappropriation of funds by employees and ensures a timely collection process. The other options listed are not directly related to establishing internal control over accounts receivable collections.

One Method of Establishing Proper Internal Control Over Collections of Accounts