Ming, CPA, is engaged to audit the financial statements of Wellington Sales, Inc., for the year ended December 31, 200X. Ming obtained and documented an understanding of the clients business and environment, including internal control over business processes relating to accounts receivable. She assessed the risks of material misstatement for the assertions of existence, rights, and valuation of accounts receivable at a high level. Ming requested and obtained from Wellington an aged accounts receivable schedule listing the total amount owed by each customer as of December 31, 200X, and sent positive confirmation requests (signed by Sam Blocker, the controller of Wellington). Ming has asked Zimber, the staff assistant assigned to the engagement, to follow up on the eight returned confirmations that appear below. Assume that each confirmation is material if the potential misstatement is projected to the population. Also, assume that in all cases the debit balance is the result of a credit to Sales. In several circumstances a Note to files is included with additional information relating to the confirmation. Required Describe the procedure or procedures, if any, that Zimber should perform to resolve each of the nine confirmations (below) with exceptions that were returned and, if possible, provide the audited value of the account. Assume that all amounts involved are considered material. Confirmation #5 The statement of our account showing a balance of $20,000 due Wellington Sales, Inc., at December 31, 200X, is correct except as noted below: Abbington Co. By Alfred Martin Date: 1/16/0Y Exceptions: Yes, we ordered $20,000 worth of merchandise from Wellington in November. However, we mailed Wellington a check for $20,000 on 12/18/0X. Note to files: Blocker indicates that the check was received and deposited on 12/28/0X, but posted to the wrong customers account. Confirmation #22 The statement of our account showing a balance of $12,222 due Wellington Sales, Inc., at December 31, 200X, is correct except as noted below: Wilson Dilco By Kent Parry Date: 2/2/0Y Exceptions: No way, Forget it. Wellington said wed have these goods in 10 days on December 2. When we didnt receive them, I canceled the order on December 12th. Wiggo Smiggo Corporation shipped us similar goods overnite. Well never deal with Wellington again as long as I am around. Confirmation #47 The statement of our account showing a balance of $22,000 due Wellington Sales, Inc., at December 31, 200X, is correct except as noted below: The Big Edge By Bert Quinton Date: 1/22/0Y Exceptions: We use a voucher system by individual invoice. We cannot verify the balance, but Wellington is one of our regular suppliers. We probably owe them something. Confirmation #51 The statement of our account showing a balance of $75,000 due Wellington Sales, Inc., at December 31, 200X, is correct except as noted below: Farkele Corporation of America and the World By Robby Boertson Date: 1/9/0Y Exceptions: Our records show that we sent them a check for the amount due on 12/29/0X. Confirmation #62 The statement of our account showing a balance of $2,500 due Wellington Sales, Inc., at December 31, 200X, is correct except as noted below: Pibson Gonker Corporation By Sam Sheffield Date: 1/30/0Y Exceptions: Note to files: This confirmation was returned by the postal service as return to sender, address unknown. Confirmation #68 The statement of our account showing a balance of $66,000 due Wellington Sales, Inc., at December 31, 200X, is correct except as noted below: Yanrarian Ruckus Company By Tom Turken Date: 2/7/0Y Exceptions: We mailed that check for the full amount on 1/3/0Y. The merchandise was not received until 12/23/0X. Confirmation #72 The statement of our account showing a balance of $22,000 due Wellington Sales, Inc., at December 31, 200X, is correct except as noted below: Yeg Co. By Alfred Martin Date: 1/30/0Y Exceptions: Yes, I guess we owe this amount, but Wellington made clear to us that we could return any of the items we did not sell. But, so far, sales are good, and weve sold most of the items. Confirmation #77 The statement of our account showing a balance of $32,000 due Wellington Sales, Inc., at December 31, 200X, is correct except as noted below: Zell Incorporated By John Nolan Date: 1/19/0Y Exceptions: We received $24,000 worth of goods on consignment from Wellington on 2/10/0X, but they are not sold yet. Confirmation #79 The statement of our account showing a balance of $42,000 due Wellington Sales, Inc., at December 31, 200X, is correct except as noted below: Zentigton Corporation By Wallace Olson Date: 1/22/0Y Exceptions: Yes we ordered $42,000 of merchandise on October 15, but Wellington was out of stock until recently. They seem to always be out of stock. We finally received the goods on January 4, 200Y