II - 15 Points If - is foints variaus internal control strengths or riaks that may be found in a represents a strength (S) or riak. (R). relatert to internal. Wetion processes Alternatively, indicate whether the item in not applicable (N/A). It it either has no impact on the atrength of internal controln or does not pertain to and caah onllection processes. Credit is authorized by the credit managri. (2. (ipait) Checks paid in excess of 55,000 require the signatures of two authorized (tpoint) A cash receipts journal is prepared by the treasurer's department. (4 point) Collections received by check are received by the company receptionist, who fur ao additional record-koeping responsibilities. (1 point) Collections received by check are immediately forwarded unopened to the accounting department. 6. ( t point) A bank reconciliation is prepared on a monthly basis by the treasurer's degartment. 7. (l paint) Security cameras are placed in the shipping dock. 8. (1 poiat) Receiving reports are prepared on preprinted, numbered forms. 9. (1 point) The billing department verifies the amount of customer sales invoices by teferring to the authorized price list. 10. (1 point) Entries in the shipping log are reconciled with the sales journal on a monthly bass 1. (I poiat) Payments to vendors are made promptly upon receipt of goods or services. 2. (1 point) Cash collections are deposited in the bank account on a weekly basis. (1 point) Customer returne must be approved by a designated manager before a credit memo is prepared (1 point) Account staternents are scat to customers on a monthly basis. (I point) receiving report