9-21 Edwards has decided to use monetary-unit sampling in the audit of an entity's accounts receivable balance. Few, if any, misstatements of account balance overstatement are expected. Required: a. Identify the advantages of using monetary-unit sampling over classical variables sampling. b. Calculate the sample size and the sampling interval Edwards should use for the following information: Tolerable misstatement Expected misstatement Desired confidence level Recorded amount of accounts receivable $ 15,000 $ 6,000 95% $300,000 c. Calculate the UML assuming that the following three misstatements were discovered in testing based on the MUS sample computed in part b Misstatement Number 1 2 3 Book Value $ 400 500 3,000 Audit Value $ 320 0 2,500