Below Are Five Audit Procedures, All of Which Are Tests

Below are five audit procedures, all of which are tests of balances associated with the audit of accounts receivable. Also below are the eight general balance-related audit objectives and the four management assertions. For each audit procedure, indicate (1) its audit objective, and (2) the management assertion being tested.

1. Obtain an aged listing of accounts receivable. For a sample of individual customers on the listing, agree the customer's name, amount, and other information with the corresponding information in the accounts receivable master file.
(1) ________.
(2) ________.
2. Examine details of sales for five days before and five days after year-end to determine whether sales have been recorded in the proper period.
(1) ________.
(2) ________.
3. Assess the reasonableness of the balance in the allowance for doubtful accounts.
(1) ________.
(2) ________.
4. Inquire as to whether any accounts receivable have been factored or sold during the period.
(1) ________.
(2) ________.
5. Inquire as to whether there are any receivables from related parties.
(1) ________.
(2) ________.