Question

Mail is delivered every day by noon to the mail room of Alex Corp, a privately-owned manufacturer. Customer payments are by check are enclosed in distinctive blue envelopes. The mail clerk separates those envelopes from all other mail. The clerk sends the unopened envelopes to the treasurer’s office. The treasurer opens the envelopes and compares the check amounts with the enclosed remittance advice. The treasurer endorses all checks, “For deposit”, prepares a 2-part list of all payments from customers, The treasurer prepares a deposit slip and encloses the endorsed checks in an envelope. She then takes the checks and deposit slip to the bank [across the street], which the bank stamps. She makes a photocopy the deposit slip and files it with the payment list by date. She sends copy 2 of the list, the remittance advices and the original deposit slip copy 2 to accounting. Accounting posts the listed customer payments to the accounts receivable sub-ledger and the bank deposit total to the cash receipts journal. The list, the remittance advices, and deposit slip are filed together by date.

REQUIRED Flowchart the above procedure

Answer 1

Mail is delivered every day by noon to the mail room of alex corp,a privately - owned manufacture .

Alex core: rlow chart for Procedures Mail Room mail check! Treasures Bank Accounting mail is received separates the y checks Receives the envelor Bank Stamos the depasit Post Payments against accounts Yeceivable Mates Photocop of deposit se SHER opens the envelop costo mer 1 customer check are check sent in blue] envelopes Areasurer compares check camount with remittance advice Postbant deposit total to cash recio Journal Ales it with foy met list by date Endorses checks Send Second Part of list ad deposit Slip to accounting List and desit slip are filed date cose Prepares deposit slip Puts check ad deposit slip in envekop Alex Corp Takes defosil slip and check. to bank