The accounting firm of Johnson and Johnson has decided to design a nonstatistical sample to...
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Accounting
The accounting firm of Johnson and Johnson has decided to design a nonstatistical sample to examine the accounts receivable balance of Francisco Fragrances, Inc., at October 31. As of October 31, there were 1,500 accounts receivable accounts with a balance of $5.5 million. The accounts receivable population can be segregated into the following strata:
| Number and Size of Accounts | Book Value of Stratum | |||
| 10 accounts > | $ | 50,000 | $ | 750,000 |
| 440 accounts > | $ | 5,000 | 3,000,000 | |
| 1,050 accounts < | $ | 5,000 | 1,750,000 | |
| Jonathan L. Gren, senior-in-charge of the audit, has made the following decisions: |
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