John, the accounting manager of LargeInventory, Inc., is trying to catch up on his work after having just returned from an absence under the Family Medical Leave Act (FMLA). While examining the bank reconciliations prepared by an employee during his absence, James noticed some anomalies—a deposit in transit that is more than 80 days old and several cleared checks with the same check number. John is more than curious about the identical check numbers. He logged onto the firm’s online banking system to check the details for each check. John fails to recognize the payees on three of the checks. John looks into the deposit in transit that is more than 80 days old and learns that it consists of one check from an unknown payee. Explain your answers to the questions below in cogent, logical sentences that provide full explanations.

Answer rating: 100% (QA)

The first thing to notice is there cant be 2 checks with same n... View the full answer