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In the audit of Maxref Corporation (Maxref) for the financial year ended 30 June 2020, you are assigned to check the sale account totalling AU$2,000,000.

In the audit of Maxref Corporation (Maxref) for the financial year ended 30 June 2020, you are assigned to check the sale account totalling AU$2,000,000. You have chosen a list of invoices (column 2) of certain customers (column 3) and would like to check these invoices with the sales journal. The result is presented in columns (4) and (5) in the Table below (all amounts are in AU$).

Date

(2020)

Invoice

number

Account

Amount on

Amount on

invoices

sales journal

(1)

(2)

(3)

(4)

(5)

Jan. 11

13236

Chelsea Ltd

3,500

3,500

Jan. 22

15326

Melbourne Co.

15,550

15,550

Feb. 9

15768

Laverton Hill

26,460

26,460

Mar. 15

17524

Sydney Harbour

62,500

62,500

Apr. 25

18014

HighTech Ltd

98,000

98,000

Apr. 28

18015

Mornington Pty

205,000

205,000

June. 20

19000

Bachurch Corp.

307,600

307,600

June. 30

19001

Point Cook Ltd

200,000

200,000

June. 30

19002

Point Cook Ltd

65,000

65,000

Required:

(a) State the audit objective (or assertion) that the auditor would like to confirm for the sales account based on his audit procedure.

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