The flowchart below depicts the sales/collection process for Richards Furniture Company, a mid-sized retailer of living room and bedroom furniture. Use the flowchart to generate a narrative description of Richards€™ sales/collection process. Comment onthe company€™s strengths and weaknesses with regard to internal controls; suggest ways to address the weaknesses you identify.

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Salesperson Cashier Assistant Manager Manager Prepare sales invoice. Sales invoice (3 copies) Validated invoice check, or cash return slip Sales invoice (4 copies) Approve sale and process Reconcile and prepare report Prepare bank deposit. Deposit documents. To bank Three copies go Assign consecutive number to the cashier, o is retained in the sales book. Reconciled report Review bank deposit. One copy of the validated invoice goes to the customer One stays in the store; the third goes to the assistant manager Date Cash register Tape