Question: Problem 9-46 [LO 9-7, 9-8] Scott Duffney, CPA, has randomly selected and audited a sample of 100 of Will-Mart's accounts receivable. Will-Mart has 3,000 accounts
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Problem 9-46 [LO 9-7, 9-8] Scott Duffney, CPA, has randomly selected and audited a sample of 100 of Will-Mart's accounts receivable. Will-Mart has 3,000 accounts receivable accounts with a total book value of $3,750,000. Duffney has determined that the account's tolerable misstatement is $1,000,000. His sample results are as follows: Average audited value Average book value $1,240 1,248 CamScanner Required: Calculate the accounts receivable estimated audited value and projected misstatement using the: (Do not round your intermediate calculations and round your final answer to nearest whole dollar.) 7 Estimated Audited Value Projected Misstatement a. Mean-per-unit method. b. Ratio method c. Difference method
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