2. PLEASE HELP ASAP! THANK YOU!

2. Following are 10 internal control failures related to the revenues and cash collection processes: 1. A customer ordered 12 boxes of your product (total of 144 items) for express shipment. Your data entry clerk inadvertently entered 12 individual items. 2. You enter sales and accounts receivable data in batches at the end of each week. Several problems have resulted recently as a result of invoices being recorded to the wrong customer account. 3. In an effort to boost sales, you obtain some unissued (blank) shipping reports and create a dozen fictitious shipments. You submit these documents to the billing department for invoicing. 4. Checks are received by the mail room and then forwarded to the accounts receivable department for recording. The accounts receivable clerk holds the checks until the proper customer account has been identified and reconciled. 5. Several shipping reports have been misplaced en route to the billing department from the shipping department. 6. Several sales transactions were not invoiced within the same month as the related shipment. 7. A sales clerk entered a nonexistent date in the computer system. The system rejected the data and the sales were not recorded. 8. Upon entering sales orders in your new computer system, a sales clerk mistakenly omitted customer numbers from the entries. 9. A computer programmer altered the electronic credit authorization function for a customer company owned by the programmer's cousin. 10. Customer orders were lost in the mail en route from the sales office to the accounting department (located at the company's headquarters). Required: From the list that follows, select one intemal control would be most effective in the prevention of each listed failure. Indieate the letter of the control next to each failure. Letters should not be used more than once, and some letters may not be used at all. a. Preformatted data entry screens b. Prcnumberod documents c. Programmed edit checks d. 100 percent check for matching of customer orders and sales orders c. 100 percent check for matching of sales orders, pick list, and packing slips f. 100 porcent check for matching of sales orders and imvoices g. 100 pereent check for matching of deposit slip and customer check h. Prompt data entry immediately upon reccipt of eustomer order i. Customer verification j. Independent authorization for shipments k. Independent authorization for billing 1. Reasonableness chock m. Hash totals: n. Data backup procedures o. Program change controls p. Sequence verification q. Periodic confirmation of customer account balances 2. Following are 10 internal control failures related to the revenues and cash collection processes: 1. A customer ordered 12 boxes of your product (total of 144 items) for express shipment. Your data entry clerk inadvertently entered 12 individual items. 2. You enter sales and accounts receivable data in batches at the end of each week. Several problems have resulted recently as a result of invoices being recorded to the wrong customer account. 3. In an effort to boost sales, you obtain some unissued (blank) shipping reports and create a dozen fictitious shipments. You submit these documents to the billing department for invoicing. 4. Checks are received by the mail room and then forwarded to the accounts receivable department for recording. The accounts receivable clerk holds the checks until the proper customer account has been identified and reconciled. 5. Several shipping reports have been misplaced en route to the billing department from the shipping department. 6. Several sales transactions were not invoiced within the same month as the related shipment. 7. A sales clerk entered a nonexistent date in the computer system. The system rejected the data and the sales were not recorded. 8. Upon entering sales orders in your new computer system, a sales clerk mistakenly omitted customer numbers from the entries. 9. A computer programmer altered the electronic credit authorization function for a customer company owned by the programmer's cousin. 10. Customer orders were lost in the mail en route from the sales office to the accounting department (located at the company's headquarters). Required: From the list that follows, select one intemal control would be most effective in the prevention of each listed failure. Indieate the letter of the control next to each failure. Letters should not be used more than once, and some letters may not be used at all. a. Preformatted data entry screens b. Prcnumberod documents c. Programmed edit checks d. 100 percent check for matching of customer orders and sales orders c. 100 percent check for matching of sales orders, pick list, and packing slips f. 100 porcent check for matching of sales orders and imvoices g. 100 pereent check for matching of deposit slip and customer check h. Prompt data entry immediately upon reccipt of eustomer order i. Customer verification j. Independent authorization for shipments k. Independent authorization for billing 1. Reasonableness chock m. Hash totals: n. Data backup procedures o. Program change controls p. Sequence verification q. Periodic confirmation of customer account balances