A client has a separate sales group for its largest “preferred” customers. This is a select group of customers that normally make purchases in excess of $250,000 and often have accounts receivable balances in excess of $1 million. Which of the following audit procedures would the auditor most likely perform?
A. Prepare a schedule of purchases and payments for these customers.
B. Send out negative confirmations on a large sample of these customers.
C. Inquire of the sales manager regarding the accounts receivable terms.
D. Send out positive confirmations on a large sample of these customers.
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