George Jetson owns and operates a restaurant and catering business which has seen the business show an increase in revenue over the last 6 months. With an increase in revenues, George realized the expenses would also increase but expected to see an increase in the cash position of the business in the cash position. The business receives cash and credit cards at the restaurant and also extends credit to customer for the catering business.
Explain the internal controls George needs to have in place for the receipt of both cash and credit cards for the restaurant.
Explain which Internal Control Procedure does “completing a bank reconciliation” is associated with. Explain your choice of procedures.
Task 1: Create a new discussion topic on or before the due date in the Course Syllabus -> Course Schedule by clicking the ‘**REPLY HERE**’ post below. In your reply, you will post your response to the main topic. Your response should be a minimum of 150 words. Going over the minimum word length requirement is acceptable; however, I am not looking for 500+ words!
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