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The following misstatements are found in the sales and collection cycles account balances: cash received from collections of accounts receivable in the subsequent period is

  1. The following misstatements are found in the sales and collection cycles account balances:
  2. cash received from collections of accounts receivable in the subsequent period is recorded as current period receipts.
  3. Goods shipped and included in the current period sales were returned in the subsequent period.

For each misstatement, list an internal control that should prevent it.

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