Your client is All$$s Fair Appliance Company, an appliance wholesaler. Select the most appropriate audit procedure from the following list and enter the number in the appropriate place on the grid. $($An audit procedure may be selected once, more than once, or not at all.$)$

Audit Procedure:

Review of bank confirmations and loan agreements

Review of drafts of the financial statements

Selection of a sample of shipping documents, matching of them with related sales invoices, and determining that they have been included in the sales journal and accounts receivable subsidiary ledger

Select a sample of shipping documents for a few days before and after year$-$end

Confirmation of accounts receivable

Review of aging of accounts receivable with the credit manager

Assertions:

Accuracy, Valuation and Allocation

Completeness

Cutoff

Existence

Presentation

Rights and obligations

Description

Assertion #

Procedure #

A

Ensure that the entity has legal title to accounts receivable

B

Determine that recorded accounts receivable include all amounts owed to the client

C

Verify that all accounts receivable are recorded in the correct period

D

Ensure that the allowance for uncollectible accounts is properly stated

E

Confirm that recorded accounts receivable are valid

F

Ensure that all revenue$-$related disclosures are made in the financial statements