In the “Case Learning Objectives and Implementation Guidance” section, we present the learning objectives, implementation guidance, and classroom validation. In these Teaching Notes, we provide suggested solutions to the questions, instructor guidance for grading, possible revisions across semesters, and concluding comments.

Differences exist between the accounting record (the Books) and the bank statements (the Bank). These differences are identified in Table 1. As indicated in Table 1, the Other Withdrawals, which consist of ATM Withdrawals and Debit Card Point of Sale (POS) purchases, are not recorded in the Books. These total $1,322.13 ($297.34 + 474.20 + 550.59). Two checks are paid by the bank but are not recorded in the Books. One of these checks is #5005 for $2,500.00, made out to Carol Norwalk and endorsed by her for deposit into First State Bank, Account #1443-0298. The second check is #5017 for $2,100.00, made out to RCN Consulting...

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