Make sure your response addressing the following questions is more than 200 words and that you include an in-text citation or a brief quote from the reading material where appropriate.

• What is internal control and how can it protect a companys assets?
• What are the various internal control procedures with respect to cash receipts and payments?
• When preparing a bank reconciliation, what are the different adjustments that affect the book and bank side?
• Why do journal entries need to be prepared after completing the bank reconciliation?
• Provide three example journal entries with a description of the adjustment.