Response to the following problem:
When you check out at a Best Buy store, the cash register displays the amount of the sale, the cash received from the customer, and any change returned to the customer. Suppose the register also produces a customer receipt but keeps no internal record of transactions. At the end of the day, the clerk counts the cash in the register and gives it to the cashier for deposit in the company bank account.
Write a memo to the store manager. Describe the internal control weakness over cash receipts. Identify the weakness that gives an employee the best opportunity to steal cash, and state how to prevent such a theft.