Based on the above data and the result of your audit, answer the following: 1. The entry to correct/adjust item number 3 is: a. Accounts receivable 4,000 Sales discounts b. Sales discounts 4,000 Accounts receivable 4,000 2. The entry to correct/adjust item number 10 is: a. Accounts payable 50,000 Cash b. Cash 50,000 b. Other liabilities Cash 50,000 3. The entry to correct/adjust item number 17 is: a. Accounts payable 50,000 Cash 50,000 50,000 4,000 50,000 Accounts receivable 50.000 c. Accounts receivable 4,000 Sales d. No adjustments c. Cash Accounts payable d. No adjustment c. Cash 50,000 Accounts payable d. No adjustments 4,000 50,000 50,000 50,000

Audit Procedures are methods and techniques performed by the auditor to determine the quality of financial information of clients, thereby expressing an opinion on true & fair view of financial statements and entity position. They are identified and appl…