Tom is the accountant for ABC Auto Stores. Tom receives and opens all mail. Tom follows company policies by separating customer checks from the remittance advices. Tom deposits the checks in the bank and posts the payments indicated on the remittance advices to the customers' accounts in the subsidiary ledger. At the end of each day, Tom totals the amounts posted to the customers' accounts and compares the total to the bank deposit slip ensure that all receipts are deposited in the bank.
List any internal control weaknesses and propose ways to strengthen the controls.

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The Answer of Tom is the accountant for ABC Auto Stores. Tom receives and opens all mail. Tom follows company policies by separating customer checks from the remittance advices. Tom deposits the checks in the bank and posts the payments indicated on the remittance advices to the customers' accounts in the subsidiary ledger. At the end of each day, Tom totals the amounts posted to the customers' accounts and compares the total to the bank deposit slip ensure that all receipts are deposited in the bank.
List any internal control weaknesses and propose ways to strengthen the controls.

Tom Is the Accountant for ABC Auto Stores