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George Jetson owns and operates a restaurant and catering business which has seen the business show an increase in revenue over the last 6 months. With an increase in revenues George realized the expenses would also increase but expected to see an increase in the cash position of the business in the cash position. The business receives cash and credit cards at the restaurant and also extends credit to customer for the catering business.
Explain the internal controls George needs to have in place for the receipt of both cash and credit cards for the restaurant.
Sagot :
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