please do E-7 B and explain why.

e Cambridge E7-7B. Cash and Cash Equivalents ldentify cach of the following items as either cash (C), cash equivalents LO Chapter 7 Internal Control and Ca (CE), or neither (N): Money market funds a. Euros h. A postdated check C. A savings account d. Traveler's checks e. E7-8B. External versus Internal Audit Compare the purpose of an external audit to that of an internal audit. E7-9B. The External Audit and Fraud Explain why the external audit is not considered a fraud audit. LC LC (A PROBLEMS-SET A P7-1A. Internal Control Xiley Company encountered the following situations: The person who opens the mail for Xiley, Bill Stevens, stole a check from a customer and cashed it, To cover up the theft, he debited Sales Retuns and Allowances and credited Accounts Receiv- able in the general ledger. He also posted the amount to the customer's account in the accounts