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Which of the following represent good internal control procedures concerning cash receipts?

1.Cash receipts

should be posted to the Accounts Receivable account at the end of the month.

2.Cash should be deposited only at the end of the month.

3.Designate a specific employee to open mail, handle cash, and record the cash.

4.Endorse checks immediately upon receipt with the stamp, "For Deposit Only".

Top Answer

4.Endorse checks immediately... View the full answer

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