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Question 24 10 pts Donald, CPA is a new assistant auditor working on the audit of Lone Star, Inc. The audit senior, LaTrice CPA asked
Question 24 10 pts Donald, CPA is a new assistant auditor working on the audit of Lone Star, Inc. The audit senior, LaTrice CPA asked Donald to "test the aging of accounts receivable schedule" prepared by the client. An excerpt of the schedule is presented below. Lone Star, Inc. Excerpt from Aged Accounts Receivable Customer Total 0-30 days 31-90 Over 90 Customer A 15,466.14 10,647.76 4,818.38 Customer B 5,424.16 2,775.34 2,648.82 Customer C 12,882.38 11,432.98 [continued...] Total $192,909.63 170,696.50 15,591.26 6,621.87 Donald added up each column and agreed it to the total at the bottom. Donald also made sure that the columns for each date range (0-30; 31-90; over 90) added up to the "Total balance" column. He told La Trice "OK, all done." QUESTION: Explain whether Donald's procedures to "test the aging" were sufficient. [Note: The schedule is presented for illustration purposes only so that you can understand what Donald did. You do not need to analyze the schedule itself.] HTML Editor :an B I A A IX
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