From the dropdown menu, select the audit assertion relating to classes of transactions to the appropriate audit objectives for sales and receivables. Assertion Audit Objective Sales adjustment transactions represent authorized discounts, returns 1. and allowances, and bad debts applicable to the period. 2. v All cash received from customers during the period is recorded as cash receipts. 3. v Particularly relevant to transactions around the year end; all sales, cash receipts, and sales adjustment transactions arising before the period end are recorded in the current period and those arising after the period end are included in the next accounting period. All discounts, returns and allowances, and bad debts arising during the 4. v period are recorded as sales adjustments