Prepare a process list for your merchandising business which lists in detail the steps involved in the control of cash receipts. Further, your business will also incur cash payments for utility bills, purchase of supplies and inventory, along with payroll and other expenses. Please prepare a process list for each business which details the steps involved in the control of cash payments. What are the objectives of internal controls for cash receipts and cash payments? Identify the five elements which make up internal control and provide an example for each element?