Question 9 of 9 Current Attempt in Progress Your answer is incorrect. James Bach is a CPA student working on the confirm

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Question 9 Of 9 Current Attempt In Progress Your Answer Is Incorrect James Bach Is A Cpa Student Working On The Confirm 1 (71.02 KiB) Viewed 9 times

Question 9 of 9 Current Attempt in Progress Your answer is incorrect. James Bach is a CPA student working on the confirmation working paper from one of his clients, Dunstan Electric Co. He has so far summarized the results of his testing as shown: Customer Applied Devices Barry Manufacturing Brandt Electronics Jed Ltd. Balance per GL 117,383 107,084 401,500 58,650 Balance Confirmed Customer response 117,383 92,084 401,500 53,000 Returned damaged goods December 30 for $5,650 Touthook and Media Sent cheque for $15,000 December 29 Given the above results, which of the following statements regarding the accounts receivable confirmations is true? (Several choices may be correct.) There is no need to perform any further work for Applied Devices. For Barry Manufacturing, the auditor can assume the $15,000 is an error and should adjust the general ledger. For Barry Manufacturing, this is a timing difference and the auditor should review the receipt of the cheque after year end. For Brandt Electronics, even though there is no difference between the general ledger balance and the confirmed amount, the auditor should perform further work to substantiate the confirmed amount. For Jed Ltd., there is no need for an adjustment to accounts receivable. O For Jed Ltd., an error has been identified, and the accounts receivable should be adjusted for $5,650.