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Author Question: Who is generally responsible for opening receipts when a company uses a lockbox to speed the ... (Read 103 times)

agstelzer01

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Question 1

Which of the following is not one of the five classes of transactions included in the sales and collection cycle?
◦ sales returns and allowances
◦ write-off of uncollectible accounts
◦ bad debt expense
◦ interest income

Question 2

Who is generally responsible for opening receipts when a company uses a lockbox to speed the handling of cash receipts?
◦ company personnel
◦ temporary employees in the town where the lockbox is located
◦ bank employees
◦ company controller


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Marked as best answer by agstelzer01 on Aug 21, 2022

MistyHubbard

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agstelzer01

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Reply 2 on: Aug 21, 2022
YES! Correct, THANKS for helping me on my review


Mochi

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Reply 3 on: Yesterday
Great answer, keep it coming :)

 

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