This problem requires the use of ACL software, which can be accessed through the textbook website. Information about downloading and using ACL and the commands used in this problem can also be found on the textbook web- site. You should read all of the reference material preceding the instructions about “Quick Sort” before locating the appropriate command to answer questions a. through c. For this problem, use the “Invoices” file in the “Sales and Collection” subfolder under tables in the ACL_Rockwood project. This file contains information on sales invoices generated during calendar year 2014, including those that have been paid versus those still outstanding. The suggested command or other source of information needed to solve the problem require- ment is included at the end of each question.
a. Obtain and print statistical information for Invoice Amount. What is the total amount of invoices generated during the year? Do any invoices have a negative value?
b. What is the total amount of invoices still outstanding (not yet paid) at the end of the year? Note the file includes a default payment date for unpaid invoices that will be updated once payment is received. (Summarize)
c. From the summary created in part b. above, click on the “Outstanding” invoices to ex-
amine the details of those still outstanding. Sort the “invoice_date” column in ascend-
ing order. What concerns do you have, if any, about the collectibility of the invoice
amounts? (Quick Sort)
d. How might the evidence obtained in parts a. through c. above help the auditor in test-
ing accounts receivable?
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