Cash purchases of merchandise are recorded in the: Multiple Choice cash receipts journal. general journal. cash payments journal. purchases journal. Which of the following is not a good control over cash receipts? Multiple Choice Enter cash receipts in the accounting records promptly. Keep cash receipts in a cash register, locked cash drawer, or a safe while they are on the premises. Bond employees who receive and handle cash receipts. The same person should receive all cash receipts, enter them in the accounting records, and make the bank deposit. Which of the following is not a good control over cash payments? Multiple Choice Someone other than the person approving payments should record them in the accounting records. The person doing the bank reconciliation should not also prepare or record checks. Use petty cash to make most payments to be more efficient. Enter all cash payments in the accounting records promptly. What is the term for the person or firm issuing a check? Multiple Choice Drawee Drawer Payee Bank Why does a payee endorse a check before depositing it? Multiple Choice It is the legal process by which the payee transfers ownership of the check to the bank. It is a form of identification verification. The check will be paid faster by the bank if it is endorsed. All of these are correct