QUESTION 4 The Gamecock, Inc. cash account contains a year-end balance of $30,530. Outstanding checks as of year-end totaled $2,050. Deposits in transit are $5,340 at year end. The bank balance includes the rejection of a customer's check with insufficient funds in the amount of $500. An intoxicated employee of the Gamecock Company incorrectly records a disbursement/check for $350 that correctly cleared the bank for $325. The bank statement also includes a service charge of $35 on the account, and the bank collects a note on behalf of the Gamecock Company that includes $3,000 in principal and $200 in interest Tor F... The balance per the bank statement is $29,980. True False QUESTION 5 20 pc Tor F... Internal controls will exclude a periodic review of payroll checks against master employee payroll records for possible employee collusion. True False