AP11.1 (LO 1, 2) Basic Understanding the entity and its environment Your client is a regional motel chain. It owns 27 properties in your region and manages another 40 properties for absentee owners. All the motels are located on interstate highways and achieve at least 60% of capacity on a regular basis. In the past, many motels have been fully booked during the summer travel season; however, the economy has taken a turn for the worse and people are traveling less. Required Explain how your knowledge of the business and industry would impact your audit of total revenues and accounts receivable for the client