During the process of confirming receivable as December 31, 2012, a positive confirmation was returned indicating the “balance owned as of December 31 was paid on January 9, 2013”. The auditor would most likely • Verify that the amount was received. • Determine whether a customary trade discount was taken by the customer. • Reconfirm the zero balance as of January 10, 2013 • Determine whether there were any changes in account between January 1 and January 9, 2013.

During the process of confirming receivable as December 31, 2012, a positive confirmation was returned indicating the “balance owned as of December 31 was paid on January 9, 2013”. The auditor would most likely

·        Verify that the amount was received.

·        Determine whether a customary trade discount was taken by the customer.

·        Reconfirm the zero balance as of January 10, 2013

·        Determine whether there were any changes in account between January 1 and January 9, 2013.

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