1. How does the use of bank accounts ensure control of cash?

| June 6, 2016

Question
1. How does the use of bank accounts ensure control of cash?

2. How does the use of bank accounts improve management s decision making?

3. How does the bank reconciliation reduce the likelihood of theft and fraud

4. Maxtel had net sales of $4,235 million and ending accounts receivable of $775 million.

Its days sales uncollected equals

5. A company borrowed $10,000 by signing a 180 day promissory note at 11%. The total

interest due on the maturity is

6. A company had net sales of $600,000, total sales of $750,000 and an average accounts

receivable of $75,000. Its accounts receivable turnover equals

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