the false 2. What factors might have contributed to the weak internal control environment that allowed 1. What internal controls could have been used to prever billing scheme? this scheme to exist for 16 years? P4-44A. (Learning Objective 4: Prepare a bank reconciliation) The cash data of Duffy Auto motive for May 2018 follow: Cash Date Item Jrnl. Ref. Debit Credit Account No. 101 Balance 7,150 16,901 Balance May 1 30 30 9,751 CR6 CP11 10,308 6,593 Cash Receipts (CR) Date Cash Debit May 2 $ 2,728 8 512 10 1,693 16 832 22 427 29 982 30 2,577 Total $9.751 Cash Payments (CP) Check No. Cash Credit 3113 $ 1,522 3114 1,759 3115 1,930 3116 63 3117 805 3118 87 3119 476 3120 1,049 3121 257 3122 2,360 Total $10,308 1. Prepare Duffy Automotive's bank reconciliation at May 31, 2018. 2. Prepare the journal entries required at May 31, 2018. 3. Describe how a bank account and the bank reconciliation help the general manager control Internal Contr Dully Automotive received the following bank statement on May 31, 2018: 7,150 $ 700 EFT 2,728 512 1,693 832 427 1,325 BC 8,217 Bank Statement for May 2018 Beginning balance Deposits and other additions: May 1 4 9 12 17 22 23 Checks and other deductions: May 7 13 14 15 18 21 26 30 30 Ending balance $ 1,522 1,390 492 US 1,759 63 316 EFT 805 87 10 SC (6.444 $ 8.923 Explanation: BC-bank collection of note receivable from customer, EFT-electronic funds transfer US-unauthorized signature, SC-service charge payment Additional data for the bank reconciliation include the following: . The EFT deposit was a receipt of monthly rent. The EFT debit was a monthly insurance b. The unauthorized signature check was received from a customer and returned by the C. The correct amount of check number 3115, a payment on account, is $1.390. (Duffy Automotive's accountant mistakenly recorded the check as $1,930.) bank unpaid. Requirements Duffy Automotive's cash. Groun