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On January 4, 2010, Dunbar Company purchased, on credit, 2,000 television sets at $500 each. Terms of the purchase were 2/10, n/30. Dunbar paid for 20% of these sets on January 13 and the remaining 80% on February 1.Required:Prepare the journal entries on Dunbar Company's books, assuming that it uses the net price method to record its merchandise. (Dunbar uses a perpetual inventory system.)
Why do auditors find it necessary to use sampling? What are the risks associated with sampling? How might these risks affect the audit conclusion?
roadmaster an australian company has subsidiaries in japan and hong kong. the income tax rates are 40 for australia
Problem Statement: The auditor for ZZZZ Best, Larry Gray, lacked a sufficient knowledge of the client, the client's business and the client's industry.
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In a manufacturing company the proper journal entry (without numbers) to record the purchase of direct materials would be:
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