Final answer:
Good internal control for checks received through the mail would include the mail clerk logging and documenting every check received, endorsing each check immediately upon receipt, and segregating duties.
Step-by-step explanation:
Good internal control for checks received through the mail would include the mail clerk logging and documenting every check received. This can be done by creating a log sheet where the mail clerk records details such as the date, sender, amount, and a unique identification number of each check received. This helps create a paper trail and provides a record of all checks that have been received.
Additionally, the mail clerk should endorse each check immediately upon receipt with a restrictive endorsement, such as 'For deposit only' and the company's account number. This ensures that the check can only be deposited into the company's account and reduces the risk of unauthorized handling or cashing of the check.
Lastly, it is important for the mail clerk to segregate duties. This means that there should be multiple individuals involved in the check handling process to avoid any one person having complete control or access to checks. For example, after receiving the checks, the mail clerk can pass them on to another employee responsible for opening and preparing the checks for deposit.