3) The following journal entry is necessary upon discovery of a NSF check during a bank reconciliation:

Select one:

a. Accounts Receivable Cash

b. NSF Expense Cash

c. Miscellaneous Expense Cash

d. No entry is necessary.

4. Which of the following items would you add to the bank statement balance to arrive at the reconciled cash balance in a bank reconciliation:

Select one:

A. Bank service charges

B. Outstanding checks

C. NSF' checks

D. None of the above

8) Identify the principle of internal control that is violated in the following situation:

Taylor Company is a very small business. Alexis Dancer, one of the two office clerks, opens the mail each day and removes the cash receipts that come in the mail. Alexis then records the receipts in the cash records and the customer's account and deposits the cash in the bank.Select one:

A. Insure assets and bond key employee

B. Maintain adequate records

C. Divide responsibility for related transactions.

D. Perform regular and independent reviews