1. How does the use of bank accounts ensure control of cash?   2. How does the use of bank accounts...

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?