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C. Silver Tone Partners, Inc. has a cash receipts clerk who will fill in for the receptionist on a regular basis. Normally the receptionist would

C. Silver Tone Partners, Inc. has a cash receipts clerk who will fill in for the receptionist on a regular basis. Normally the receptionist would collect the mail, which includes customer payments, and record the payments in the payments journal, as appropriate, and get the funds ready for deposit. One week the receptionist was on vacation and the cash receipts clerk filled in at the front desk. The clerk didn't log any of the customer payments in the payments journal. The following week the receptionist returned from vacation. The next day numerous customers began to call the company stating that they received past due notices but their checks had already been cashed so they didn't understand. The cash receipts clerk quit without notice and no one understood what had occurred. Explain whether this situation posed an ethical issue and how it could expose the primary stakeholders of the company.

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