Proper segregation of duties requires that one person not perform three specific separate functions with respect to a single transaction. Two of those functions are authorization and custody of assets. What is the third function that should be performed by a different person if proper segregation of duties is to be maintained? Risk assessment Investment strategy Financing structure Record keeping 5) On January 16, a credit sale was made for $1,000. Terms for the sale were 4/10,n/30. Cash for the sale was collected on January 23. Which debit or credit should be included in the journal entry to record the cash collection on January 23? Debit sales discounts for $960. Debit accounts receivable for $1,000. Debit sales discounts for $40. Debit cash for $1,000. 36 Credit sales for the year were $120,000. Collections on account were $108,000. What debit or credit should be included in the summary journal entry necessary to record the $108,000 cash collection on account? Credit sales for $108,000 Debit sales for $108,000 Credit accounts recelvable for $108,000 Debit accounts receivable for $108,000