Dont need answer to question took picture of whole page by mistake. Thank you! Determine whether each procedure described below is an internal control strength or weakness; then identify the internal control principle violated or followed for each procedure. $1.$ The same employee requests, records, and makes payment for purchases of inventory. $2.$ The company saves money by having employees involved in operations perform the only review of internal controls. $3.$ Time is saved by not updating records for use of supplies. $4.$ The recordkeeper is not allowed to write checks or initiate EFTs. $5.$ Each salesclerk is in charge of her own cash drawer. Determine whether each policy below is good or bad cash management; then identify the cash management strategy violated or followed for each policy. $1.$ Bills are paid as soon as they are received. $2.$ Cash receipts and cash payments are regularly planned and reviewed. $3.$ Excess cash is put in checking accounts, earning no interest income. $4.$ Customers are regularly allowed to pay after due dates without concern. $5.$ Rarely used equipment is rented rather than purchased. Specter Co$.$ combines cash and cash equivalents on the balance sheet. Using the following information, determine the amount reported on the year$-$end balance sheet for cash and cash equivalents. $-\backslash$$$3,000$ cash deposit in checking account. $-\backslash$$$200,3-$year loan to an employee. $-\backslash (\backslash$$ $20,000\backslash )$ bond investment due in $20$ years. $-\backslash (\backslash$$ $1,000\backslash )$ of currency and coins. $-\backslash$$$5,000$ U$.$S$.$ Treasury bill due in $1$ month. $-\backslash (\backslash$$ $500\backslash )$ of accounts receivable. Determine whether each cash receipts procedure is an internal control strength or weakness. $1.$ If a salesclerk makes an error in recording a cash sale, she can access the register's electronic record to correct the transaction. $2.$ All sales transactions, even those for less than $\backslash (\backslash$$ $1\backslash ),$ are recorded on a cash register. $3.$ Two employees are tasked with opening mail that contains cash receipts. $4.$ One of the two employees tasked with opening mail is also the recordkeeper for the business. $5.$ The supervisor has access to both cash and the accounting records. $6.$ Receipts are given to customers only for sales that are above $\backslash (\backslash$$ $20\backslash ).$ Determine whether each cash payment procedure is an internal control strength or weakness. $1.$ A voucher system is used for all payments of liabilities. $2.$ The owner of a small business has authority to write and sign checks. $3.$ When the owner is out of town, the recordkeeper is in charge of signing checks. $4.$ To save time, all departments are allowed to incur liabilities. $5.$ Payments over $\backslash (\backslash$$ $100\backslash )$ are made by check. $6.$ Requesting and receiving merchandise are handled by the same department.