QUESTION 1 [25 MARKS] Boatle Pty (Ltd) is a newly incorporated company that trades in high end uniquely tailored furniture. Customers are given credit on 180 day credit term. There are no proper controls within the organisation as a result there are high default rates by debtors not paying on time, the chief accountant is also having trouble keeping track of customers accounts balances as well as the stock going in and out of the organization. Required: a. Discuss the controls that can be implemented i. To resolve the high default rates of debtors. (10 marks) ii. To help keep track of goods dispatched to customers. (10 marks) b. Briefly explain the limits of the internal controls mentioned above. (5 marks)