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 Tolorable misstatomont Expected misstatement Desired confidence level Recorded amount of accounts receivable S 15,000 6,000 300,000 95% c. Calculate the UML assuming that the following three misstatements were discovered in testing based on the MUS sample computed in part (b). Misstotomont Numbor Book Value Audit Valuo s 400 500 3,000 S 320 2,500 (AICPA, adapted) 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 Tolorable misstatomont Expected misstatement Desired confidence level Recorded amount of accounts receivable S 15,000 6,000 300,000 95% c. Calculate the UML assuming that the following three misstatements were discovered in testing based on the MUS sample computed in part (b). Misstotomont Numbor Book Value Audit Valuo s 400 500 3,000 S 320 2,500 (AICPA, adapted)