Chapter 07 Exercise 77 LO 7-7 (IDEA Required) For this exercise, your client, Bright IDEAs Inc., has provided you with data for two related files, a listing of sales invoices, and a listing of customers with credit limits. To test whether credit authorization controls are in place, the auditor must complete a series of related steps. 1. Import the client's database of sales invoices (pp. 28-45 of the IDEA Workbook). 2. Summarize the Accounts Receivable balance by customer (pp. 67-79 of the IDEA Workbook). 3. Import the client's customer credit limit data into IDEA (pp. 70-79 of the IDEA Workbook). 4. Join the Accounts Receivable balances by customer with the credit limit data (pp. 80-87 of the IDEA Workbook). 5. Extract customers with exceeded credit limits (pp. 88-89). Required Data Files: IDEA Data Analysis Workbook ACC REC2015.ACCDB CUSTOMER.TXT Required: Complete all of the related steps shown above using IDEA. After completing each step, answer the following questions. (Enter your answers exactly as they appear in IDEA.) a. How many customers were granted credit with no indication that they had any credit limit assigned to them? b. How many customers exceeded their credit limit? c. Determine which accounts and assertions were most likely influenced by your findings in (a) and (b). X Answer is not complete. Complete the question by entering your answers in the tabs given below. Req A Required and BC a. How many customers were granted credit with no indication that they had any credit limit assigned to them? b. How many customers exceeded their credit limit? Total customers granted credit without an indication of an assigned credit limit Total customers with exceeded credit limits Chapter 07 Exercise 77 LO 7-7 (IDEA Required) For this exercise, your client, Bright IDEAs Inc., has provided you with data for two related files, a listing of sales invoices, and a listing of customers with credit limits. To test whether credit authorization controls are in place, the auditor must complete a series of related steps. 1. Import the client's database of sales invoices (pp. 28-45 of the IDEA Workbook). 2. Summarize the Accounts Receivable balance by customer (pp. 67-79 of the IDEA Workbook). 3. Import the client's customer credit limit data into IDEA (pp. 70-79 of the IDEA Workbook). 4. Join the Accounts Receivable balances by customer with the credit limit data (pp. 80-87 of the IDEA Workbook). 5. Extract customers with exceeded credit limits (pp. 88-89). Required Data Files: IDEA Data Analysis Workbook ACC_REC2015.ACCDB CUSTOMER.TXT Required: Complete all of the related steps shown above using IDEA. After completing each step, answer the following questions. (Enter your answers exactly as they appear in IDEA.) a. How many customers were granted credit with no indication that they had any credit limit assigned to them? b. How many customers exceeded their credit limit? c. Determine which accounts and assertions were most likely influenced by your findings in (a) and (b). X Answer is not complete. Complete the question by entering your answers in the tabs given below. Req A Required and B c. Determine which accounts and assertions were most likely influenced by your findings in (a) and (b). (Select all items that apply in the list below by choosing "X" in the corresponding cell in dropdown column. For items that do not apply, leave the corresponding dropdown cell blank.) Show less Accounts and Assertions Existence of accounts receivable Valuation of accounts receivable Completeness of accounts receivable Completeness of sales revenue Accuracy of sales revenue Chapter 07 Exercise 77 LO 7-7 (IDEA Required) For this exercise, your client, Bright IDEAs Inc., has provided you with data for two related files, a listing of sales invoices, and a listing of customers with credit limits. To test whether credit authorization controls are in place, the auditor must complete a series of related steps. 1. Import the client's database of sales invoices (pp. 28-45 of the IDEA Workbook). 2. Summarize the Accounts Receivable balance by customer (pp. 67-79 of the IDEA Workbook). 3. Import the client's customer credit limit data into IDEA (pp. 70-79 of the IDEA Workbook). 4. Join the Accounts Receivable balances by customer with the credit limit data (pp. 80-87 of the IDEA Workbook). 5. Extract customers with exceeded credit limits (pp. 88-89). Required Data Files: IDEA Data Analysis Workbook ACC REC2015.ACCDB CUSTOMER.TXT Required: Complete all of the related steps shown above using IDEA. After completing each step, answer the following questions. (Enter your answers exactly as they appear in IDEA.) a. How many customers were granted credit with no indication that they had any credit limit assigned to them? b. How many customers exceeded their credit limit? c. Determine which accounts and assertions were most likely influenced by your findings in (a) and (b). X Answer is not complete. Complete the question by entering your answers in the tabs given below. Req A Required and BC a. How many customers were granted credit with no indication that they had any credit limit assigned to them? b. How many customers exceeded their credit limit? Total customers granted credit without an indication of an assigned credit limit Total customers with exceeded credit limits Chapter 07 Exercise 77 LO 7-7 (IDEA Required) For this exercise, your client, Bright IDEAs Inc., has provided you with data for two related files, a listing of sales invoices, and a listing of customers with credit limits. To test whether credit authorization controls are in place, the auditor must complete a series of related steps. 1. Import the client's database of sales invoices (pp. 28-45 of the IDEA Workbook). 2. Summarize the Accounts Receivable balance by customer (pp. 67-79 of the IDEA Workbook). 3. Import the client's customer credit limit data into IDEA (pp. 70-79 of the IDEA Workbook). 4. Join the Accounts Receivable balances by customer with the credit limit data (pp. 80-87 of the IDEA Workbook). 5. Extract customers with exceeded credit limits (pp. 88-89). Required Data Files: IDEA Data Analysis Workbook ACC_REC2015.ACCDB CUSTOMER.TXT Required: Complete all of the related steps shown above using IDEA. After completing each step, answer the following questions. (Enter your answers exactly as they appear in IDEA.) a. How many customers were granted credit with no indication that they had any credit limit assigned to them? b. How many customers exceeded their credit limit? c. Determine which accounts and assertions were most likely influenced by your findings in (a) and (b). X Answer is not complete. Complete the question by entering your answers in the tabs given below. Req A Required and B c. Determine which accounts and assertions were most likely influenced by your findings in (a) and (b). (Select all items that apply in the list below by choosing "X" in the corresponding cell in dropdown column. For items that do not apply, leave the corresponding dropdown cell blank.) Show less Accounts and Assertions Existence of accounts receivable Valuation of accounts receivable Completeness of accounts receivable Completeness of sales revenue Accuracy of sales revenue