The division of the following duties is meant to provide the best possible controls for the Meridian

Question:

The division of the following duties is meant to provide the best possible controls for the Meridian Paint Company, a small wholesale store:
†1. Approve credit for customers included in the customer credit master file.
†2. Input shipping and billing information to bill customers, record invoices in the sales journal, and update the master file.
†3. Open the mail and prepare a prelisting of cash receipts.
†4. Enter cash receipts data to prepare the cash receipts journal and update the master file.
†5. Prepare daily cash deposits.
†6. Deliver daily cash deposits to the bank.
†7. Assemble the payroll time cards and input the data to prepare payroll checks and update the payroll journal and payroll master files.
†8. Sign payroll checks.
†9. Assemble supporting documents for general and payroll cash disbursements.
†10. Sign general cash disbursement checks.
†11. Input information to prepare checks for signature, record checks in the cash disbursements journal, and update the appropriate master files.
†12. Mail checks to suppliers and deliver checks to employees.
13. Cancel supporting documents to prevent their reuse.
14. Update the general ledger at the end of each month and review all accounts for unexpected balances.
15. Reconcile the master file with the control account and review accounts outstanding more than 90 days.
16. Prepare monthly statements for customers by printing the master file; then mail the statements to customers.
17. Reconcile the monthly statements from vendors with the master file.
18. Reconcile the bank account.

Required
You are to divide the accounting-related duties 1 through 18 among Robert Smith, James Cooper, and Bill Miller. All of the responsibilities marked with a dagger are assumed to take about the same amount of time and must be divided equally between Smith and Cooper.
Both employees are equally competent. Miller, who is president of the company, is not willing to perform any functions designated by a dagger and will perform only a maximum of two of the other functions.*

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