10-40 SOLUTION: Spartan Drug Store, Inc. (Estimated time 20 minutes) Spartan Drug Store, Inc. Processing Cash Collections Internal Control...

10-40 SOLUTION: Spartan Drug Store, Inc. (Estimated time 20 minutes) Spartan Drug Store, Inc. Processing Cash Collections Internal Control Questionnaire 1. Are customers who pay be check identified via store I.D. Card or other means? Does company policy prohibit accepting checks for anything except merchandise sales plus a nominal cash amount? Is a receipt produced by the cash register given to each customer? Is the reading of each cash register taken periodically by an employee who is independent of the handling of cash receipts? Are cash counts made on a surprise basis by an individual who is independent of the handling of cash receipts? Is the reading of each cash register compared regularly to the cash received? Is a summary listing of cash register readings prepared by an employee who is independent of physically handling cash receipts? Is a summary listing of cash register readings prepared by an employee who is independent of physically handling cash receipts? Are rec