bmission Details cussion 3 -Cash sible Discussion 3-Cash This discussion activity meets Module Learning Objectives 1,2,3,4.& 6 Requirements-answer 2 questions and complete 2 replies You must label each answer with the number of question. Each question must have at least three sentence answers. There is no maximum sentence, use as many as you wish to thoroughly answer the question. All answers must be complete sentences using proper grammar and spelling. Angelina is in the rental property business. She employs property managers who collects rent, arranges for repairs, and runs advertisements in the local newspaper. The property managers transfer cash to Angelina monthly. The property managers prepare their own bank reconciliations. The manager in Lansing has been stealing from the company. To cover the theft, he overstates the amount of the outstanding checks on the monthly bank reconciliation. As a result, each monthly bank reconciliation appears to balance. However, the balance sheet reports more cash than is actually in the bank. Angelina is currently putting his entire business up for sale. In negotiating the sale of the business, Angelina is showing the balance sheet to prospective buyers. 1. Identify all could be harmed by this theft. In what ways could they be harmed? 2. Discuss the internal controls that were lacking in this situation. MacBook Air