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You have been asked to perform substantive tests of details on the occurrence assertions for sales revenue. You select a sample of recorded sales and
You have been asked to perform substantive tests of details on the occurrence assertions for sales revenue. You select a sample of recorded sales and vouch them to the appropriate underlying documents to substantiate that the sale occurred. Your audit team has determined a tolerable misstatement for this audit procedure to be $M
Account Balance:
Total Transactions in Population:
Sample Size $:
Sample Size Transactions:
Cumulative Misstatements in the Sample:
Given this information from your team's audit procedures, what would be your estimate for the total misstatement in the population using the Sample Deviation Rate method to project your results to the overall population? Round your answer to the nearest whole dollar.
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