Part I: The following issues listed below were not discovered by your audit team member. Required: Identify the one assertion that BEST pertains to each undiscovered issue. Explain why the assertion you selected pertains to each issue. (1 sentence each).

Issue	Assertion	Explanation
1. The allowance for bad debt accounts (part of the net accounts receivable balance per the balance sheet) differs significantly from the audit teams estimated range.
2. An accounts receivable confirmation indicated that the customer did not have an account with the company.
3. Service revenue recorded was never performed.
4. Checks from customers received in the mailroom were never recorded and deposited.
5. Some inventory in the warehouse appears to be obsolete.
6. Sales transactions made at the beginning of the following fiscal year were recorded and reported in the prior year income statement.
7. Confirmations indicated that there were liens and other restrictions on accounts receivable.
8. Cash disbursement transactions were not recorded at the correct amounts.
9. For a sample of shipping documents, the related sales were not recorded in the sales journal.
10. Long-term receivables and related party receivables were not reported separately in the financial statement footnotes.
11. A sample of sales invoices did not have a related shipping document.