-50. Ming. CPA. is engaged to audit the financial statements of Wellington Sales Inc, for the year ended December 3, 20KO. Ming obtained and documented an understanding of the client's business and environment, including internal control over business processes relating to afcounts receivable. She assessed the risks of material misstatement for the assertions of existemes, rights, and valuation of accounts receivable at a high level. Ming requested and obtained frum Wellington an aged accounts receivable schedule listing the total amount owed by each customer as of December 31, 20X0, and sent positive confirmation requests (signed by Sam Blocker, the controller of Wellington). Ming has asked Zimber, the staff assistant assigned to the cngagement, to follow up on the nine returned confirmations that follow. Assume that each confirmation is material if the potential misstatement is projected to the population. Also, assume that in all cases the debit balance is the result of a credit to "Sales." In several circumstances, a "Note to files" is included with additional information relating to the confirmation. Describe the procedure or procedures, if any, that Zimber should perform to resolve each of the nine confirmations (below) with exceptions that were returned and, if possible. provide the audited value of the account. Assume that all amounts involved are considered material. Confirmstien 8 at Decenber 31,760, is colrect enceot int noled beloer The Big folge Ey Ber cuintos Diate 1/224 Exceptoris We cae a waucher aystani by Andivisual involce. We carnot werify the balance, but Weilingtont is one of our regular suppliers. Wh arobably swe them aomething. Confinmation 151 December 91,2 oxo, is carect ewtept as moted tyetow: Fottele Eorporuton of Amesica and the Werld Ey Roboy Boertson Date: thaxt Euceptons: Our recondr shour that we bent thean a check for the ansount due on 12/290. Confimation 862 December 31,200, is contect except as noted below: Pibson Gonher Corporation Fy Som Shertiele Date 1,1001 Exenntions: Note to fies This eqnfimioninn was returned by the pouta iefite as "netum fo sender, gatiess unknown." Confirnsation +68 The staterient of our account chowing a balance ct 586,000 due Wellingtoni Saler frci at December 3 ti 200, is cariect cucept ws noted beliow. Yanrarian Ruchies Compony: By Toet Turkef Date-2itix? Euceptione We mailed that check for the ful amount on 1/3x. The merchandise wos not recelved antil 12/23/80. Confirmation +72 The staternent of our account stiowing a belance of 522.090 due Welingtoc Sales inciat Decernber 31,200, is correct except as nored belows: Date: 1/301 Exceptions Yes, I guess we owe this amount, but Weallington made clear to us that we could return any of the items we did not spil. fut, so fac sales are good, and we ve sold most of the items. Confirmatlan 277 The statement of our account showing a balance of 532,000 due Wellington. Sales tnc. at. December 31,200,15 correct except as noted belowe Zeil incorporated By John Nolar Date: 1/19/K1 Excentions We received 324,000 worth of goods an cansignment from Wellington on 2/100, bat they are not soid yet. Confirmation 279 The statement of our account showing a balance of 542.000 due Welington Siles lac. at Becember 31, 20X0, is correct except an noted below, Date: 1/22/1 Exceptions: Yes, we ordered $42,000 of merchandise on October 15 , but Wellington was out of stock until recently. They seem to always be out of stock. We finally received the goods on January 4,201