Congratulations! You have been chosen to lead the financial audit of a small retail store...
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Accounting
Congratulations! You have been chosen to lead the financial audit of a small retail store on Main Street in Denver. Based on your conversation with the owner, he has a basic journal with all the revenues and expenses listed. However, he does not keep an electronic accounting system and all prior financial statements are handwritten. He explains that he needs to get a 100,000 loan to expand his business. How would you proceed with the audit?
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