Question: Chapter 7 Internal Control and Cash Obj. 2,3,5 Ex 723 Using bank reconciliation to determine cash receipts stolen Alaska Impressions Co. records all cash receipts

Chapter 7 Internal Control and Cash Obj. 2,3,5 Ex 723 Using

Chapter 7 Internal Control and Cash Obj. 2,3,5 Ex 723 Using bank reconciliation to determine cash receipts stolen Alaska Impressions Co. records all cash receipts on the basis of its cash register tapes. Alas termined amount of cash receipts by taking the daily deposits to the bank. The follow E RImpressions discovered during October 20Y3 that one of its sales clerks had stolen an unda have been gathered for October Cash in bank according to the general ledger Cash according to the October 31, 20Y3, bank statement Outstanding checks as of October 31, 20Y3 Bank service charge for October Note receivable, including interest collected by bank in October $11,680 13,275 3,670 40 2,100 No deposits were in transit on October 31. A. Determine the amount of cash receipts stolen by the sales clerk. B. What accounting controls would have prevented or detected this theft

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