View the step-by-step solution to:

1. What is an account receivable aging report? 2. Why is an accounts receivable aging report needed for an audit?

1. What is an account receivable aging report?
2. Why is an accounts receivable aging report needed for an audit?
3. What is an accounts receivable aging report used for in normal business company      
         operations?
4. What data will you need to prepare the report?
5. Where will you collect the data you need to prepare the report?
6. If the data are maintained on paper, how will you collect the necessary data?
7. If the data are in machine-readable form, how will you collect the data?
8. What will the report look like; i.e., how will you organize the data collected to create the information needed for auditing?

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