Island Trading Company, your existing audit client, has requested your advice on the following problem. The Company has three clerical employees who must perform the following functions: 1. Maintain General Ledger. 2. Maintain accounts Payable Ledger. 3. Maintain Accounts Receivable Ledger. 4. Maintain cash disbursements journal and prepare checks for signature. 5. Issue credit memos for sales returns and allowances. 6. Reconcile the bank account. 7. Handle and deposit cash receipts. Assuming that there is no problem as to the ability of any of the employees, the Company requests your advice on assigning the above functions to the three employees in such a manner as to achieve the highest degree of internal control. It may be assumed that these employees will perform no other accounting functions than the ones listed and that any accounting functions not listed will be performed by persons other than these three employees. Required: i) List six possible unsatisfactory combinations of the above-listed functions. [ 3 marks ] ii) State how you would recommend distributing the above functions among the three employees. Assume that, with the exception of the nominal jobs of the bank reconciliation and the issuance of credits on returns and allowances, all functions require and equal amount of time