Link Back to Chapter 7 (Internal Control Over Cash Receipts). Suppose Carnation, the instant breakfast company is opening an office in Chicago. Timothy Mayborne, the office manager, is designing the internal control system. Mayborne proposes the following proce- dures for credit checks on new customers, sales on account, cash collections, and write-offs of uncollectible receivables: The credit department will run a credit check on all customers who apply for credit. Sales on account are the responsibility of the Carnation salespersons. Credit sales above a reasonable limit require the approval of the credit manager. Cash receipts come into the credit department, which separates the cash received from the customer remittance slips. The credit department lists all cash receipts by customer name and amount of cash received. The cash goes to the treasurer for deposit in the bank. The remittance slips go to the accounting department for posting to customer accounts. Each day's listing of cash receipts goes to the controller for comparison with the daily deposit slip and the day's listing of the total dollar amount posted to customer accounts. The three amounts must agree. Identify the internal control weakness in this situation, and propose a way to correct it.