To determine if notes payable are included in the proper period,the auditor should

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Examining the duplicate copies of notes payable to determine whether they were dated on or before the balance sheet date helps the auditor ensure that the notes payable are included in the proper period. This is because notes should be recorded as liabilities on the balance sheet as of their issuance date, not their payment date. Tracing cash received from the issuance, examining interest rates, and tracing individual notes payable to the master file may be relevant audit procedures for notes payable, but they do not specifically address whether the notes are included in the proper period.

To Determine If Notes Payable Are Included in the Proper