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Sam Hill has just installed a new computerised accounting system at his business to process all sales, and cash collections from customers, and...
Sam Hill has just installed a new computerised accounting system at his business to process all sales, and cash collections from customers, and maintain all accounts receivable records. Jeremy is the only staff member with computer expertise; therefore he records all transactions in the new computerised accounting system. To enable the business to operate more efficiently, all cash payments by customers are made directly to Jeremy, and all mail containing cheque payments by customers are opened by Jeremy. Jeremy immediately records the payments in the new computerised accounting system, which automatically generates a receipt for the customer. During the day Jeremy puts the cash and cheques received in the unlocked bottom drawer of his desk, and the next morning he deposits them at the bank.
