For each of the following audit findings, indicate the income statement and balance sheet accounts that are affected and whether these accounts are overstated or understated. Provide an adjusting entry to correct the misstatement, if required. Assume a December 31 year end. a) Outstanding cheques totaling $44,000 were deducted from the cash balance on December 23, but deliberately not mailed out to avoid a bank overdraft over the holidays. b) A new employee recorded sales of $79,000 for goods that were shipped after year-end, and included in the year end inventory count. The cost of these goods is $53,000. c) A lawyer's bill for services rendered in November was not paid or accrued. It was found stapled among the back up for another invoice. One-off vs. systemic & effect on audit? a Journal entry(ies): One-off vs. systemic & effect on audit? b b Journal entry(ies): One-off vs. systemic & effect on audit