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Unformatted text preview: 0 M 6232 Propose (AJE #5) to correct overstatement (TB-IS) of interest expense and accrued interest: Payments: 2009 (voucher 4-38) 15938 DP 305 Accrued Interest 7831 Balance per client 12-31-09 919 901 Interest Expense 7831 Audit adjustments: (TB-BS) Balance per audit 919 # Confirmed details and amount by direct confirmation. D Traced to cash disbursements journal. X Agreed to prior year's working papers. &amp; Examined client copy of note vouching payee, date of origin, amount, due date, and interest rate. Y Noted proper authorization for borrowing in minutes of Board of Directors' meeting. P Examined paid voucher. M Recalculated interest. R Traced to cash receipts journal. C Confirmed with bank per (A-2)....
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This note was uploaded on 05/16/2011 for the course AC 404 taught by Professor Richardkido during the Spring '10 term at Chaminade University.
- Spring '10