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Unformatted text preview: critical. Cash Receipts Controls Illustration 7-4 shows how the internal control principles explained earlier apply to cash receipts transactions. As you might expect, companies vary considerably in how they apply these principles. To illustrate internal control over cash receipts, we will examine control activities for a retail store with both over-the-counter and mail receipts. Application of internal control principles to cash receipts...
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- Spring '11