Lapping is best described as the process of <u>B. applying </u><u>cash receipts</u> to a different customer's account in an attempt to conceal previous thefts of cash receipts.
<h3>What is Lapping?</h3>
Lapping is an employee stealing scheme revolving around the application of cash receipts.
Lapping can be traced by tracing the application of cash receipts to customers' accounts.
Routine application of cash receipts to wrong customer accounts proves evidence of a lapping scheme.
Thus, Lapping is best described as the process of <u>B. applying </u><u>cash receipts</u> to a different customer's account in an attempt to conceal previous thefts of cash receipts.
Learn more about lapping schemes at brainly.com/question/14846195
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Answer:
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Explanation:
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It is called <span>Stratified Sampling :)</span>
Answer:
Entries are given
Explanation:
We will record assets and expenses on the debit as they increase during the year and will record liabilities and capital on the credit side as they increase during the year or vice versa.
DEBIT CREDIT
A. Kacy Spade, owner, invested cash in the company
Common stock 14250
Cash 14250
B. The company purchased office supplies
Office supplies 413
Cash 413
C.The company purchased office equipment on credit
Office equipment 7880
Payables 7880
D.The company received $1,681 in cash
Cash 1681
Fees earned 1681
E. The company paid $7,880 cash to settle the payable
Payables 7880
Cash 7880
F. The company billed a customer $3,021 as fees
Receivable 3021
fees earned 3021
G. The company paid $520 cash for the monthly rent.
Rental expense 520
Cash 520
H. The company collected $1,269 cash as partial payment
Cash 1269
Receivables 1269
I. The company paid a $1,000 cash dividend to the owner
Retained earnings 1000
Cash 1000