The following procedures are used by Richardson Light

Works a When #2714

The following procedures are used by Richardson Light Works.a. When customers pay cash for
lighting products, the cash is placed in a cash register and a receipt is issued to the customer.
b. At the end of each day, the cash is counted by the cashier and a cash count sheet is
prepared. c. The manager checks the accuracy of the cash count sheet before taking the cash
to the bank for deposit. d. The journal entry to record cash sales is prepared using the cash
count sheets. e. Checks are written to suppliers immediately after supplier invoices are
received. f. Receiving reports are prepared to indicate the quantity and condition of goods
received from suppliers, based on inspections made by warehouse personnel.Required:1.
Indicate whether each procedure represents a strength or weakness. Explain your reasons.2.
For each weakness, describe a change in procedures that would address the weakness.View
Solution:
The following procedures are used by Richardson Light Works a When

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