For each error below, indicate: 1)which accounts are affected and 2)which assertions are violated. Please list 1-2 assertion per account that are the key/primary assertions violated.

1. An inventory purchase is received but not recorded until the company pays for the goods.

Accounts affected:

Assertions violated:

2. Certain repair costs that should be expensed are capitalized.

Accounts affected:

Assertions violated:

3. No loss is recorded or disclosed for a pending lawsuit against the client that is material, probable, and can be estimated.

Accounts affected:

Assertions violated:

4. Sales shipped FOB shipping point are recorded before the balance sheet date but not shipped until after the balance sheet date.

Accounts affected:

Assertions violated: