chapter 11

question 4

b. What is an appropriale name for the department lahend? What would be an appropriate description for pro C7 d. What is the location represented by the symbol D? What accounting record is represented by the symbol E? What is an appropriate name for the department labeled 112 Whal process is represented by the symbol ? h Whal accounting record is represented by the symbol i What accounting record is represented by symbol G! 35 clerks who receive and sort the reneral mail Included in the mail are envelopes containing cu Lomer checks and remittance advices, which the clerks open le verify that the checks are signed and are constant in amount with the remittance advice. The checks and remittance advices are orga- nized into hatches and sent to the AR department where the AR clerk reviews them for correctness posts to the AR sub ledper. The clerk then prepares two copies of a remittance list. One of these is filed in the department along with the remittance advice and the other is sent to the cash receipts department with the check Upon receipt of the checks and remittance list, the cash receipts clerk reconciles the documents and po the checks to the cash receipts journal. At the end of the day, the clerk prepares a depit slip and sends it along with the checks to the bank Finally, the clerk summaries the balch of cash receipts transaction and posts to the general ledger AR control account and the cash account 4. SYSTEM DOCUMENTATION, RISK ANALYSIS, AND INTERNAL CONTROLS The following describes the cash receipts process for a company: The mail room sal consists of b. What is an appropriale name for the department lahend? What would be an appropriate description for pro C7 d. What is the location represented by the symbol D? What accounting record is represented by the symbol E? What is an appropriate name for the department labeled 112 Whal process is represented by the symbol ? h Whal accounting record is represented by the symbol i What accounting record is represented by symbol G! 35 clerks who receive and sort the reneral mail Included in the mail are envelopes containing cu Lomer checks and remittance advices, which the clerks open le verify that the checks are signed and are constant in amount with the remittance advice. The checks and remittance advices are orga- nized into hatches and sent to the AR department where the AR clerk reviews them for correctness posts to the AR sub ledper. The clerk then prepares two copies of a remittance list. One of these is filed in the department along with the remittance advice and the other is sent to the cash receipts department with the check Upon receipt of the checks and remittance list, the cash receipts clerk reconciles the documents and po the checks to the cash receipts journal. At the end of the day, the clerk prepares a depit slip and sends it along with the checks to the bank Finally, the clerk summaries the balch of cash receipts transaction and posts to the general ledger AR control account and the cash account 4. SYSTEM DOCUMENTATION, RISK ANALYSIS, AND INTERNAL CONTROLS The following describes the cash receipts process for a company: The mail room sal consists of