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| (c) The following issues also need to be resolved before the financial statements of New Visions can be finalised: Required: Discuss each of these issues and describe the impact on the audit report if the above issues remain unresolved. (ii) The majority of New Visions revenue relates to credit sales although this year the company has made some cash sales for the first time. The audit senior has not been able to find any supporting documentation to substantiate the cash sales for the year. These amount to $100,000. (4 marks) |