When a Company Receives Customers' Checks by Mail

question 72

Multiple Choice

When a company receives customers' checks by mail:

• A)the mailroom sends all customer checks to the treasurer,who has the cashier deposit the checks in the bank.
• B)the treasurer prepares the journal entries.
• C)the mailroom employee prepares the journal entries.
• D)the treasury department cashier prepares the journal entries.

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Definitions:

Artisans

Skilled craftworkers who make products by hand, often both creating and selling their goods.

Mobilize Resources

The process of gathering and utilizing various resources like finances, human capabilities, and materials to achieve specific objectives.

Federal Government

The national government of a federal system, which shares power with state or provincial governments according to the constitution of the country.

National Bank System

A network of banks chartered by the federal government in the United States, established to create a stable, national currency and improve the government's control over the economy.