Molly Maloney is an employee of Marshall Company, a small manufacturing concern. Her responsibilities include opening the

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Molly Maloney is an employee of Marshall Company, a small manufacturing concern. Her responsibilities include opening the daily mail, depositing the cash and checks received into the bank, and making the accounting entries to record the receipt of cash and the reduction of receivables. Explain how Maloney might be able to misuse some of Marshall's cash receipts. As a consultant, what control procedures would you recommend?

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Survey Of Accounting

ISBN: 9780538846172

1st Edition

Authors: James D. Stice, W. Steve Albrecht, Earl Kay Stice, K. Fred Skousen

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