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PROBLEM A: You have recently purchased ABC Pretzels in the Freehold Mall. Explain how what you learned about internal control will help you run your business. (Write four well-constructed sentences)

Problem C: Jones Corporation has a book balance of $44,924 and a bank balance of $46,400. The following additional information is available:

Deposits in transit $10,000

Outstanding checks $6,000

Notes Receivable collected by the bank $5,400

Bank fees $50

Jones Corporation incorrectly recorded on their books a check for $340 that should have been recorded at $214.

Prepare a reconciliation.