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    Audit Working Papers Receivables

    Uploaded by

    Keith Joshua Gabiason
    XYZ Corporation provided aging schedules for their accounts receivable and notes receivable as of December 31, 2020. The accounts receivable aging schedule showed balances for 4 customers totaling $xx with $xx being current, $xx being 1-60 days past due, $xx being 61-90 days past due, and $xx being over 90 days past due. The notes receivable schedule listed 4 notes from other companies totaling $xx with various due dates and interest rates accrued. XYZ Corporation also provided a summary of the results of their positive confirmation of accounts receivable showing the number and amounts of confirmations sent and received.

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    Download as XLSX, PDF, TXT or read online from Scribd

    Audit Working Papers Receivables

    Uploaded by

    Keith Joshua Gabiason
    161 views3 pages
    XYZ Corporation provided aging schedules for their accounts receivable and notes receivable as of December 31, 2020. The accounts receivable aging schedule showed balances for 4 customers totaling $xx with $xx being current, $xx being 1-60 days past due, $xx being 61-90 days past due, and $xx being over 90 days past due. The notes receivable schedule listed 4 notes from other companies totaling $xx with various due dates and interest rates accrued. XYZ Corporation also provided a summary of the results of their positive confirmation of accounts receivable showing the number and amounts of confirmations sent and received.

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    Audit working papers Receivables

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    XYZ Corporation provided aging schedules for their accounts receivable and notes receivable as of December 31, 2020. The accounts receivable aging schedule showed balances for 4 customers totaling $xx with $xx being current, $xx being 1-60 days past due, $xx being 61-90 days past due, and $xx being over 90 days past due. The notes receivable schedule listed 4 notes from other companies totaling $xx with various due dates and interest rates accrued. XYZ Corporation also provided a summary of the results of their positive confirmation of accounts receivable showing the number and amounts of confirmations sent and received.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    161 views3 pages

    Audit Working Papers Receivables

    Uploaded by

    Keith Joshua Gabiason
    XYZ Corporation provided aging schedules for their accounts receivable and notes receivable as of December 31, 2020. The accounts receivable aging schedule showed balances for 4 customers totaling $xx with $xx being current, $xx being 1-60 days past due, $xx being 61-90 days past due, and $xx being over 90 days past due. The notes receivable schedule listed 4 notes from other companies totaling $xx with various due dates and interest rates accrued. XYZ Corporation also provided a summary of the results of their positive confirmation of accounts receivable showing the number and amounts of confirmations sent and received.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    of 3

    XYZ Corporation

    Accounts Receivable-Aging Schedule


    December 31, 2020

    Aging Distribution Subsequent


    Balance Past Due Collections
    up to
    Name of Customer Debit Credit Current Jan-60 61-90 Over 90 02/15/2021
    M Corporation xx " xx ^ xx /
    N Company (xx) "
    O Enpterprises xx" xx^ xx /
    P Incorporated xx " xx
    Balance per books xx' xx xx xx xx xx

    1. To reclassify account
    Add
    with (Deduct) Adjustments
    2. To credit balance-
    write-off (N
    definitely uncollectible xx
    Comnpany)
    account-P Inc. (xx) xx
    Net xx xx xx xx xx
    Balance as adjusted xx xx xx xx xx

    xx' Trace to the general ledger


    ^ Aging distribution checked
    / Official receipts inspected
    xx" Traced to subsidiary ledger

    Prepared by: Received by:


    Initial Date Initial Date
    XYZ Corporation
    Notes Receivable
    December 31, 2020

    Date Interest Interest


    Note Number Maker of Note Due Rate Amount Accrued Earned
    52 A Corp. 11/30/20 02/15/21 xx% xx CI xx^ xx
    58 B Corp. 10/12/2020 10/2/2021 xx% xx CI xx^ xx
    60 C Corp. 12/20/20 02/20/21 xx% xx CI xx^ xx
    71 D Corp. 12/30/20 03/30/21 xx% xx CI xx^ xx

    Balance per ledger xx' xx xx


    Add (deduct) Adjustment
    1. To reclassify past due note- A Corp. (xx)
    Balance per audit xx

    C Confirmed by maker
    Confirmation replies on separate file
    xx' Traced to the general ledger
    I Inspected promissory note
    ^ Computations verified

    Prepared by: Received by:


    Initial Date Initial Date
    XYZ Corporation
    Summary of Results of Positive Confirmation
    Accounts Receivable
    December 31, 2020

    Per Count
    Number of Accounts
    Amount This Year Last Year
    Confirming Balances (CBxx xx xx xx
    Responding differences xx xx xx xx
    Portion confirmed xx xx xx
    Portion excepted to: xx xx xx
    Returned by post office xx xx xx xx
    No replies (NR) xx xx xx xx
    total confirmation sent xx xx 100% 100%
    Percent of
    Total of accounts
    confirmatiomns sent to xx xx
    total of accounts xx% xx%

    Have all reported material differences been adjusted or satisfactorly cleared?


    Note below details of differences not adjusted or satisfactorily cleared.

    Prepared by: Received by:


    Initial Date Initial Date

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