Using Bank Reconciliation to Determine Cash Receipts Stolen Pala Co. records all cash receipts on the basis of its cash register tapes. Pala Co. discovered during April 20Y1 that one of its sales clerks had stolen an undetermined amount of cash receipts when she took the daily deposits to the bank. The following data have been gathered for April: Cash in bank according to the company records $8,965 Cash according to the April 30, 2041, bank statement 20,710 Outstanding checks as of April 30, 20Y1 5,915 Bank service charges for April 25 Note receivable, including interest collected by bank in April 9,595 No deposits were in transit on April 30. a. Determine the amount of cash receipts stolen by the sales clerk. X to a receipt from the bank as to the amount deposited, like a duplicate deposit ticket would discourage theft of the cash receipts, as in b. Daily reconciliation of the amount of cash receipts, comparing the cash register tapes the case of First Impressions Co. Feedback Check My Work a. Prepare a bank reconciliation. The adjusted balances in the bank and company sections of the reconciliation will not be equal. The difference is the stolen cash. b. As you answer this question, consider whether Pala's has control procedures regarding the separation of responsibilities for related operations. Also, check if they have used any proofs and security measures to safeguard assets