During your annual audit of Walker Distributing Co., your assistant, Jane Williams, reports to you that, although

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During your annual audit of Walker Distributing Co., your assistant, Jane Williams, reports to you that, although a number of entries were made during the year in the general ledger account Notes Payable to Officers, she decided that it was not necessary to audit the account because it had a zero balance at year-end. Do you agree with your assistant’s decision? Discuss.

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