Each day's receipts can be kept separate by, a. preparing a deposit slip for each day's receipts, b.reconciling the bank statement, c. listing the ABA numbers,d. making daily bank withdrawals.
preparing a deposit slip for each day
The correct answer to the question of how to keep each day's receipts separate is option a. preparing a deposit slip for each day's receipts.
To understand why this is the correct answer, let's break down each option:
a. Preparing a deposit slip for each day's receipts: This means that at the end of each business day, you would prepare a separate deposit slip for the total amount of money collected that day. This helps in keeping track of the daily receipts and makes it easier to reconcile with the bank statement.
b. Reconciling the bank statement: Reconciliation is the process of matching your records with the bank's records to ensure they are in agreement. While it is an important practice to maintain accurate financial records, it does not necessarily help in keeping each day's receipts separate.
c. Listing the ABA numbers: ABA numbers, also known as routing transit numbers, are unique nine-digit codes used to identify financial institutions in the United States. While this information may be useful for some banking operations, it is not directly related to keeping each day's receipts separate.
d. Making daily bank withdrawals: Daily bank withdrawals refer to withdrawing money from the bank on a daily basis. While this may help in managing cash flow, it does not specifically address the question of keeping each day's receipts separate.
Therefore, the correct answer is option a. preparing a deposit slip for each day's receipts, as it is a direct and practical solution for keeping daily receipts organized and separate.