Refer to the master file data for the auditors program. Assume the following information about three customer
Question:
Refer to the master file data for the auditor’s program. Assume the following information about three customer accounts.
a. Customer No. 500 has an \($8,000\) balance, of which \($6,000\) is current, \($1,000\) is 31-60 days old, and \($1,000\) is 61-90 days old.
b. Customer No. 501 has a \($4,000\) balance, of which \($3,500\) is current and \($500\) is over 90 days old.
c. Customer No. 502 has a \($3,000\) balance, all of which is current.
Required:
Using the program flowchart to read accounts receivable master files, located, indicate which accounts would have positive confirmations sent by the auditors. Also indicate the exception messages, if any, that would be sent on these three accounts.
Step by Step Answer:
Auditing Integrated Concepts And Procedures
ISBN: 9781260299397
5th Edition
Authors: Donald H. Taylor, G. William Glezen