Bank Transfer Ch 10 Cycle 1 Problem [Read-Only) Compatibility Mode]-Word GE LAYOUTREFERENCES MAILINGS REVIEW VIE Blue River Faith Company has a major branch located in Hattiesburg. The branch deposits cash receipts daily into the bank and periodically transfers the receipts to the company's home office in Jackson. The transfers are accounted for as inter-company entries into the home office and branch office accounts. All accounting, however, is performed at the home office under the direction of the assistant controller. The assistant controller is also responsible for the transfers. The controller, however, independently reconciles the bank account each month or assigns this reconciliation to someone in the department. Often times the assistant controller is assigned this duty. The company is relatively small; therefore the controller is also the financial planner and treasurer for the company. As part of the year-end audit, you are assigned the task of conducting an audit of bank transfers. As part of the process, you are provided the following schedule of transfers: Dollar Date disbursement Amount deposited Home Office Bank per Branch per Branch Date Date Cleared Bank per Date Cleared Bank Statement Statement Office 12-29-2011 01-02-2012 01-05-2012 12-31-2011 01-03-2012 12-27-2011 $80,000 12-31-2011 $41,000 12-31-2011 $82,000 01-03-2012 S54,000 01-02-2012 $11,000 01-03-2012 $32.000 12-31-2011 12-31-2011 12-31-2011 01-07-2012 01-03-2012 12-31-2011 12-31-2011 01-07-2012 01-05-2012 01-12-2012 01-08-2012 01-05-2012 01-03-2012 Required