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Following is a bank reconciliation for Zocar Enterprises for June 30, Year 1: / 2...

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Accounting

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Following is a bank reconciliation for Zocar Enterprises for June 30, Year 1: / 2 Cash Account $25,112 Bank Statement $22,480 3,950 (530) Balance as of 6/30/Year 1 Deposit in transit Outstanding checks Note collected by bank Bank service charge NSF check Adjusted cash balance as of 6/30/Year 1 2,280 (40) (1,450) $25,900 $25,900 As part of the normal process for 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. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) c. Assume the clerk had stolen $1,450 cash, and recorded an entry for a nonexistent NSF check to reduce the cash balance so that it would match the bank balance, Select the internal control practice that would have most likely prevented this fraud, Maintaining a bank signature card, O Performance evaluations. Separation of duties. Required vacation. Hiring competent employees

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