3 0 You are engaged to perform an audit of the Giordani Corporation for the year ended December 31, 2018. You have decided to perform the following cutoff test for payables and accruals, Select all items greater than $25,000 for two business days before and after year end from the purchases journal and ensure that all transactions are recorded in the proper period During your firm's observation of Giordani's physical inventory you obtained the following cutoff information the test receiving report number in 2018 was 49,745. Your audit work identified the following items for further investigation flections from the December 2010 Purchase Journal Date RRI Vendor Name mount Explanation a. 12/30 49, 742 Allen Chen $ 29.875 Chemicals purchased for manufacturing process. b. 12/31 mone Khan Consulting $ 45,000 Payment for consulting services for the three- month period beginning December 1, 2016. The $45.000 was charged to consulting expenses. 12/31 49,744 Gott Materiale $209,000 Raw materials in the manufacturing process B Peint References d. Date 1/01 1/02 1/02 Selections from the Manuary 2019 Purchase oral Vendor Amount Explanation 49,746 Temper Tracks $ 75,985 Purchase of a new forkant. 49.743 Pack Products $ 42,000 por products used in manufacturing proces Telecom Inc. 133,450 December 2018 telephone bill. Home Required: For each of the six items provided in the table above, consider whether there is evidence of proper cutoff of payables and accruals fe, the transaction is recorded in the proper period). If the item is not properly recorded, prepare the necessary adjusting entries at December 31, 2018. (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) View transaction list Journal entry worksheet 4 6 >