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Two Brother Productions makes all sales on credt Cash receipts arive by mail Larry Broaddus,...

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Accounting

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Two Brother Productions makes all sales on credt Cash receipts arive by mail Larry Broaddus, the malroom clerk, opens envelopes and separates the checks from the accompanying remittance advices Broaddus forwards the checks to another employee, who makes the daily bank depost but has no access to the accounting records Broaddus sends the remittance advices, which show cash received, to the accounting department for entry in the accounts Broaddus's only other duty is to grant sales alowances to customers (A sales alowance decreases the customers account receivable ) When Broaddus receives a customer check for $225 less a $35 sales allowance, he records the sales alowance and forwards the document to the accounting department Requirements Identity Ee internal condrol weakness in this situation Who should record sales allowances? What is the amount that should be shown in the ledger for cash receipts? 1. 2. 3. Requirement 1. Identty the internal control woakness in thiss situation

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