Following is a bank reconciliation for Zocar Enterprises for June 30, Year 1. As part...
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Accounting
Following is a bank reconciliation for Zocar Enterprises for June 30, Year 1. As part of the normal process of handling an NSF check, the accounting clerk has notified the customer that their account did not contain sufficient funds to pay the balance owed to the company. The customer was told that they will need to provide an alternative form of payment to cover the outstanding balance. Required a. Prepare the adjusting entry that the clerk would have made to record the NSF check. c. Assume the clerk had stolen $1,800 cash and recorded an entry for a nonexistent NSF check to recuce the cash balance so that it would match the bank balance. Select the internal control practice that would have most likely prevented this fraud. Complete this question by entering your answers in the tabs below
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