Page 797.docx - Solution Illustrative Audit case 23.2 Page 797 A AUDIT ADJUSTMENTS 1 Operating Expenses 13 870 Petty Cash Fund 2 Accounts Receivable 13

Page 797.docx - Solution Illustrative Audit case 23.2 Page...

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Solution: Illustrative Audit case 23.2 Page 797 A. AUDIT ADJUSTMENTS 1. Operating Expenses 13, 870 Petty Cash Fund 13, 870 2. Accounts Receivable 53, 700 Cash 53,700 3. Accounts Receivable 31,500 Cash 31, 500 4. Notes Payable 350,000 Other Changes 5,000 Cash 355,000 5. Cash 36,000 Accounts Payable 36,000 6. Other Charges 1,375 Cash 1,375
7. Allowance for Doubtful Accounts 76,230 Accounts Receivable 76,230 8. Other Charges 5,470 Allowance for Decline in Value of Securities 5,470 Bacnotan Cement

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