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Instructions (a) List the weaknesses in internal control over cash disbursements. (b) Identify improvements for correcting these weaknesses. E7-6 ation is shown here. weakses January 31 Sally Rice is unable to reconcile the bank balance at January 31. Sallys $3,677.20 450.00 28.00 Cash balance per bank Add: NSF check Less: Bank service charge Adjusted balance per banlk Cash balance per books Less: Deposits in transit Add: Outstanding checks Adjusted balance per books $4,099.20 $3,975.20 590.00 770.00 $4,155.20 Instructions (a) What is the proper adjusted cash balance per bank? (b) What is the proper adjusted cash balance per books? (c) Prepare the adjusting journal entries necessary to determine the adjusted cash bal- ance per books
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