Internal Control Over Receivables
Match the department on the left to the task that the department performs on the right, all of whichrelate to accounts receivable and cash collections. Each department should be used only once.
Department | Task Description |
____ Customer Order department | a. Ensures that the goods shipped match those ordered by the customer. |
____ Credit department | b. Makes journal entries to record sales and cash collection transactions. |
____ Shipping department | c. Receives checks and prepares the daily bank deposit. |
____ Billing department | d. Prepares the sales order upon receipt of a customer order. |
____ Accounting department | e. Compares goods shipped to goods ordered and prepares a sales invoice. |
____ Mailroom | f. Reviews the customer’s file and decides whether, and how much, credit should be extended. |
____ Cash Receipts department | g. Restrictively endorses checks and prepares a daily listing of checks received. |
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