17 (12 marks) Management implements various internal controls as follows: 1. The account clerk does not stamp "PAID" on all invoices once payment is made and is recorded in the journal. 2. Cash receipts received via mail are unopened and forwarded with remittance 3. 4. advices to accounting department. Cash receipts received via mail are opened by a secretary with no record- keeping responsibility. The cash receipts journal is prepared by the treasury department. 5. A credit team grants credit to customers. 6. Cash is deposited weekly. Required: a. Classify the above internal controls (items 1 to 6) into the following categories (you are required to use the below table format to show your answers): 1. internal control strengths II. internal control weaknesses (6 marks) b. For each item that you classified as internal control strengths, indicate the MOST relevant assertion to which the control relates. For EACH assertion, indicate which transactions it relates to, eg completeness of sales transactions. (2 marks) c. For each item that you answered in part a. Category (II) above, indicate the implications of the weaknesses. Required table format Category 1-internal control strengths a. Internal control strengths (list out item numbers) b. The most relevant assertion (4 marks) Category II-internal control weaknesses a. Internal control weaknesses (list out item numbers) e. implications of the weaknesses