Accounting: The Accounting Department comprises three functions relevant to this narrative: Billing, Accounts Receivable and General Accounting. Billing prices all sales orders received which takes approximately five days after order shipment. To spread the work effort throughout the month, customers are segregated and placed in 30-day billing cycles. There are six billing cycles for which invoices are rendered during the month. Monthly statements, preparing by Billing, are sent to customers during the cycle billing period. Outstanding carry-forward balances reported by Accounts Receivable and credit memos prepared based on credit requests received from the credit manager are included on the monthly statement. Billing also prepares sales and credit memo journals for each cycle. Copies of invoices and credit memos are forwarded to Accounts Receivable for entry into the accounts receivable system by customer account. An aging report is prepared at the end of each billing cycle and forwarded to the credit manager. The accounts receivable journal reflecting total charges and credits processed through the accounts receivable system for each cycle is forwarded to General Accounting. General Accounting compares this information to the sales and credit memo journals and posts the changes to the general ledger. a. Identify at least two internal control strengths of PEI's system. Indicate why each is a strength. b. Identify at least three internal control weaknesses in PEI's system. Explain the nature of each weakness, and recommend a way to address it. 麻煩高手幫忙謝謝 --

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