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please help!! 4. No loss is recorded or disclosed for a pending lawsuit against the client that is material, probable, and can be estimated. Accounts
please help!!
4. No loss is recorded or disclosed for a pending lawsuit against the client that is material, probable, and can be estimated. Accounts affected: Assertions violated: 5. Sales shipped FOB shipping point are recorded before the balance sheet date but not shipped until after the balance sheet date. Accounts affected: Assertions violated: 6. Wages earned but not paid by the balance sheet date are not recorded. Accounts affected: Expense | Assertions violated: 7. Some checks in payment of AP are recorded before the balance sheet date but not mailed until after the balance sheet date. Accounts affected: Assertions violated: 8. A $56k sale on account near year end was recorded at $65k. Accounts affected: Assertions violatedStep by Step Solution
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