Which of the following controls would be most effective in detecting a failure to record cash received from customers paying on their accounts? Explain your answer.

(1) A person in accounting reconciles the bank deposit to the cash receipts journal. (2) Transactions recorded in the cash receipts journal are posted on a real-time basis to the accounts receivable master file. (3) Monthly statements are sent to customers and any discrepancies are resolved by someone independent of cash handling and accounting. (4) Deposits of cash received are made daily.