You determine the following facts about each of the first five checks: $(1)$ the date of the cash disbursements journal entry is the same

as the date of the check, $(2)$ the payee receives the check two days later, $(3)$ the payee records and deposits the check on the day it is

received, and $(4)$ it takes five days for a deposited check to clear banking channels and be paid by the bank on which it is drawn. Check

$3402$ was not recorded as a disbursement until July $1.$ This check was picked up by the payee on the date it was issued, and it was

included in the payee's after$-$hours bank deposit on June $30.$

What are the purposes of the audit of bank transfers?