The following figure depicts the activities performed in the revenue cycle by the Newton Hardware Company. a) Looking at the diagram, give a narration of the company's revenue cycle procedures. b) Identify at least 3 weaknesses in Newton Hardware's revenue cycle. Explain the resulting threat and suggest methods to correct the weakness. Employee Sales Clerk Activity Performed (sequential, left-to-right across all rows) Receive Customer Order Prepare Sales Sale > Credit No, Limi Order Warehouse Clerk Pick & Pack Order Yes Shipping Clerk Ship to Customer Credit Manager Approve/ Deny Credit Accountant Prepare & Mail Invoice to Customer Update Accounts Receivable Cash Collections Clerk FIGURE 12-20 Issue Credit Memo Update Accountants Receivable Deposit Remittances in Bank Monthly Receive Remittance from Customer Stomp "For Deposit Only Receive & Reconcile bonk statement