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Audit documentation often includes a client-prepared, aged trial balance of accounts receivable as of the balance sheet date. The audit team uses this aging primarily
Audit documentation often includes a client-prepared, aged trial balance of accounts receivable as of the balance sheet date. The audit team uses this aging primarily to:
verify the existence of the recorded receivables.
estimate credit losses.
evaluate internal control over credit sales.
test the accuracy of recorded charge sales.
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