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| The Computer Center of a company processes its prior week's sales invoices, as well as its returns and allowances, at the end of the week. Cash receipts, however, are processed and deposited daily. Each morning the mail receipts clerk prepares the cash receipts prelist in duplicate. The original prelist goes to the head cashier together with the checks and an adding machine tape. The duplicate copy goes to the accounts receivable supervisor. The separate remittance advices are sent to the data input clerk. At midday, the head cashier prepares the bank deposit slip which is taken to the bank. After returning from the bank, the head cashier compares the original prelist to the validated bank deposit slip, initials the documents, and files them in chronological order. The following morning the accounts receivable supervisor receives a summary processing list from the Computer Center with various control totals from the nightly accounts receivable update. The total on the prior day's duplicate cash receipts prelist is then compared with the total showing the difference between the prior day's beginning and ending accounts receivable subsidiary ledger totals. The amount shown on yesterday's duplicate cash receipts prelist was $35,532.32. This morning the difference between the beginning and ending subsidiary ledger totals was $35,541.32. Which of the following is most likely not a true statement about the company? A. If the two control totals agree, the amount posted to each subsidiary ledger account is correct. B. If a customer is required to prepay for a custom order, the subsidiary ledger account will have a credit balance. C. On the last day of the month, sales are understated. D. The grandfather-father-son technique can be used as a file protection procedure in this system. |