11-27 (Objectives 11-3 , 11-4) The following are misstatements
that can occur in the sales and collection cycle:
A customer number on a sales invoice was transposed and, as a
result, charged to the wrong customer. By the time the error was
found, the original customer was no longer in business.
A former computer operator, who is now a programmer, entered
information for a fictitious sales return and ran it through the
computer system at night. When the money came...