9.15 Assessing confirmations James Bach stan Electric Co. He has so far summarized the results of his testing as shown in figure 9.6 Required Help James complete the working paper LO 5 is a CPA student working on the confirmations working paper from one of his clients, Dun- a. Calculate any differences between the general ledger balance and the confirmed balance. b. For any balance calculated in part (a), determine what would be considered an audit error c. For the differences calculated in part (a), identify the additional audit procedures that James should perform. d. Complete the response recap and determine any extrapolated error. For any error, propose an audit adjustment. Accounts receivable confirmation Dunstan Electric Co. Dec. 31. 2020 Cont. Balance Balance per GL. Confirmed tference Explanation Error Required 1 Applied Devices 2 Barry Manufacturing 117.383 07,084 17.383 92084 Sent cheguc for Timing diffenence $15,000 December 29 3 Brandt Electronics 401.500401.o 227 047 227047 3,.000 Groton Electric Returned damaged goods December 30 for 55,650 Discussed with client credit note processed Jan. 2, so cut-off issue 58,650 6 W&M Manufacturing Overchanged for several items Examined invoice pricing to master 199,996178,920 based on selling price list, recaleulated price agreed with sales the invoices and pricing extensions determined there was an invoice pricing Totals 111,660 1.069,934 No. of ltems S Am Response recap: Valuc of contirmations mailed Valuc of contirmations received Summary of results: Valuc of account total Book value of confirmation sample Total representative erors Total representative sample Error percent Total population Proposed adjustment FIGURE 9.6 No. of Items 1.300.000 1,300,000