P4-50B. (Learning Objectives 1, 4: Describe fraud and its impact; evaluate internal controls over cash receipts and cash payments) Swedish Imports is an importer of silver, brass, and furniture items from Sweden. Sandra Gustafson is the general manager of Swedish Import:s Gustafson employs two other people in the business. Mandy Martin serves as the buyer for Swedish Imports. In her work, Martin travels throughout Sweden to find interesting new products. When Martin finds a new product, she arranges for Swedish Imports to purchase and pay for the item. She helps the artisans prepare their invoices and then faxes the invoices to Gustafson in the company office, LO Gustafson operates out of an office in Brooklyn, New York. The office is managed by Sandra Moore, who handles the mail, keeps the accounting records, makes bank deposits, and prepares the monthly bank reconciliation. Virtually all of Swedish Imports' cash receipts arrive by mail-from sales made to Target, Crate and Barrel, and Williams-Sonoma. Moore also prepares checks for payment based on invoices that come in from the suppliers who have been contacted by Martin. To maintain control over cash payments, Gustafson examines the paperwork and signs all check Requirement 1. Identify all the major internal control weaknesses in Swedish Imports' system and hovw the resulting action could hurt Swedish Imports. Also state how to correct each weakness