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The auditors wish to test the valuation of accounts receivable in the audit of Seaside Enterprises. The client has $5,000,000 of total recorded receivables, composed of 2500 accounts. The auditors have determined the following:

Tolerable misstatement $225,000
Risk of incorrect acceptance 5%
Estimated misstatement 1

calculate sampling interval and sample size

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9405110

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