Significant Deficiencies in Accounts Receivable

   In this Assignment, you succeed learning indicative deficiencies during the mode of an audit you are betrothed to fulfil.  You are conducting the audit of A-One Travel. There are two senior concerns you keep in A-One’s operations:  1. When a customer purchases a tour lot via merit card, the accounting section memorials a claim to accounts receivable and a merit to sales. However, if the customer cancels the lot, no initiation is made at the interval of cancellation. The customer must supplicate a restore in match and barely then is the merit card restoreed and reversing entries made. As expected, customers flatter A- One overbalance that their merit card beak keep not been reversed in a intervally stuff, as they were not plainly made conscious that restore supplicates must be made in match. (This system is certain on the corporation website, but it is very unamenable to discover.) 2. As a development of this system, some customers are never absorbed restores accordingly they do not resign a written restore supplicate. Accordingly no reversing entries were made, these stationary show as weighty merit card sales on A-One’s books. You say to A-One’s principal, who states that it is not his substance if his rich clientele oversee the entrust and are not watchful delay getting their money tail. He sticks to his corporation system and does not volunteer “freebies.”  2 pages APA format