EBK AUDITING+ASSURANCE SERVICES
EBK AUDITING+ASSURANCE SERVICES
17th Edition
ISBN: 9780135171219
Author: ARENS
Publisher: PEARSON CO
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Chapter 23, Problem 4RQ
To determine

Explain the distinction between bank confirmation and positive confirmation of accounts receivable. And, also explain the difference in terms of the nature of information confirmed, the sample size, and the appropriate action when the confirmation is not returned after second request and also explain the rationale for differences between these types of confirmation.

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On August 31, Hiroshi Mart has the following financial information relating to August: Sales $12,500 Sales Returns & Allowances $1,200 Purchases $5,200 Freight-in $600 Purchase Returns & Allowances $500 Purchase Discounts $300 What are the Net Purchases for the month of August?
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