Voucher system-confirmation effort for balance sheet

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Reference no: EM13775683

The following responses, A-E, were received from a positive confirmation effort for balance sheet dated December 31, 2013, related to accounts receivable. State for each (a) whether it represents an exception, and (b) how you would clear the exception or propose an adjustment, where necessary.

1) We cannot answer your request for confirmation; we use an accounts payable voucher system and can only confirm individual invoices.

2) We do not have an accounts payable balance at 12/31/2013. The invoice was billed on December 30, 2013, but the merchandise was shipped FOB destination and was received on January 5, 2014.

Reference no: EM13775683

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