What is the ethical thing to do in this circumstance?
You are the assistant treasurer in charge of general ledger accounting at the business. Your company has a large loan from an insurance company. The loan agreement requires that the company's cash account balance be maintained at $500k or more, as reported monthly. At June 30 the cash balance is $400k, which you report to Shirley, the financial vice president. shirley excitedly instructs you to keep the cash receipts book open for one additional day for purposes of the June 30 report to the insurance company. Ms. Shirley says, “If we don't get that cash balance over $500K, we'll default on our loan agreement. They could close us down, put us all out of our jobs!” Ms. Shirley continues, “I talked to Oconto Distributors (one of Springtime's largest customers) this morning. They said they sent us a check for $100K yesterday. We should receive it tomorrow. If we include just that one check in our cash balance, we'll be in the clear. It's in the mail!”