Cash in the bank and Transaction Cycles d Failure to bill a customer d Billing a customer at a lower price than called for by company policy a defalcation of cash by interception of cash receipts from customers before they are recorded, with the account charged off as a dab debt Duplicate payment of a vendors invoice d Improper payments of oficers'personal expenditures d Payment for raw materials that were not received a Payment to an employee for more hours than he or she worked d Payment of interest to a related party for an amount in excess of the going rate Arens. Loebbecke: Auditing, &/E @2000 Prentice hall. IncArens, Loebbecke; Auditing, 8/E ©2000 Prentice Hall, Inc. Cash in the Bank and Transaction Cycles ¶ Failure to bill a customer ¶ Billing a customer at a lower price than called for by company policy ¶ a defalcation of cash by interception of cash receipts from customers before they are recorded, with the account charged off as a dab debt ¶ Duplicate payment of a vendor’s invoice ¶ Improper payments of officers’ personal expenditures ¶ Payment for raw materials that were not received ¶ Payment to an employee for more hours than he or she worked ¶ Payment of interest to a related party for an amount in excess of the going rate