Question
Develop an audit program for accounts receivable at Pfizer Inc. based on the following aging schedule: Age of Receivables Amount ($) Current $500,000 1-30 days
Develop an audit program for accounts receivable at Pfizer Inc. based on the following aging schedule:
Age of Receivables | Amount ($) |
Current | $500,000 |
1-30 days | $200,000 |
31-60 days | $100,000 |
Over 60 days | $50,000 |
Include procedures for confirming receivables, assessing the allowance for doubtful accounts, and testing collectability.
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Fundamental Accounting Principles
Authors: Larson Kermit, Tilly Jensen
Volume I, 14th Canadian Edition
71051503, 978-1259066511, 1259066517, 978-0071051507
