Listed below are four interbank cash transfers, indicated by the letters a, b, c and d, of a client for late December 20X1, and early January 20X2. Bank Account One Bank Account Two Disburs ing Date Month Day Receiving Date Month Day) Per Bank Per Books Per Bank 1/02 1/04 1/03 1/02 Per Books 12/30 12/31 12/31 1/02 12/31 1/02 1/02 12/31 12/30 12/31 1/02 1/02 For each of transfers a through d indicate whether cash is understated, unaffected, or overstated by the transfer and provide a brief example of what could cause the situation in which cash is either understated or overstated. Correct answers without detailed explanation will be marked 0. As the partner in charge of the audit of a large department store, in New York City, you are trying to confirm the Accounts Receivable balance ($38,000,000) on the December 31, 2018 balance sheet. The store has about 1,300,000 charge customers. Required: A What steps would you take? B. Would you employ a positive or a negative confirmation system? Explain. C. If you cannot receive a response from a large group in your sample, describe the alternate procedures that you would undertake to verify the accounts. Correct answers without detailed explanation will be marked 0