Question: Scott Duffney, CPA, has randomly selected and audited a sample of 100 of Will-Mart%u2019s accounts receivable. Will-Mart has 3,000 accounts receivable accounts with a total

Scott Duffney, CPA, has randomly selected and audited a sample of 100 of Will-Mart%u2019s accounts receivable. Will-Mart has 3,000 accounts receivable accounts with a total book value of $3,000,000. Duffney has determined that the account%u2019s tolerable misstatement is $250,000.

His sample results are as follows:

Average audited value

$ 990

Average book value

998

Required:

Calculate the accounts receivable estimated audited value and projected misstatement using the:

a. Mean-per-unit method.

b. Ratio method.

c. Difference method.

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