researching further, you discover that excessive current shipping invoices from FedEx and UPS have been booked to this prepaid asset account instead of accounts payable 1 What are the ramifications of capltalieing expenses, such as shipping/ireight? What accounts are over and under inflaled? 3 Explain the proper accounting procedure which should have been followed instead of capilalizing shipping costs 4. What are the financial effects of posting them to a prepaid account? Discuss Wath peers, discurs the significance of financial stalement fraud