v. On 30 June 2021, the balance sheet showed dividends payable of $30,000. Management of KARL Ltd has informed the audit team that dividends payable at this date should total $20,000 following a dividend payment made to shareholders during June for which no transaction has been recorded. The company also received dividends of $15,000 (cash) on 30 June 2021 but this transaction was not recorded in the financial statements. Note: you can assume the dividends received were announced and paid on 30 June 2021 and no prior record of this transaction exists in the financial statements.