Sales Working Paper Audit

GRACE CORPORATION Sales December 31, 2004 P 112,152,313

Sales per book Add/(Deduct Adjustment) Unrecorded Sales: Invoce No. 1264

Amount 150,500

1265 1266

169,318 210,909

1254-1255

4,682

1240

440,000

975,409 P 113,127,722

Adjusting Journal Entry: Accounts Receivable

143,400

Cash

929,550

Prepared by Initial

Date

Sales

975,409

Output tax

97541

Reviewed by Initial

Date

Grace Corporation Schedule of Sales December 31, 2004 Debit Date Sold to Terms 2004 Nov.20 Louie Tan 2/10, n/30 Dec. 1 EagleDynasty Contractors 2/10, n/30 3 Construction 2/10, n/30

Inv. #

Cash Sales

Credit Sales

Credit Output Tax

484,000 246,825 4,625

440,000 224,386 4,205

44,000 22,439 420

7 Sampollo Company 2/10, n/30 1253 Benitez 10 Merchandising 2/10, n/30 1254 2/10, n/30 1255 2/10, n/31 1254-1255 15 Ida Coronel 2/10, n/30 1256

58,035 711,950 314,675 5,150 138,285

52,759 647,227 286,068 4,682 125,713

5,276 64,723 28,607 468 12,572

17 22 23

Luli Samson Susan deBlocks Leon Building Inc.

2/10, n/30 2/10, n/30 Cash

86,850 204,475

27

Cora Tayag

2/10, n/30

1257 1258 1259 1260 1261

78,955 185,886 68,914 101,268 189,636

7,895 18,589 6,891 10,127 18,964

Cash 2/10, n/30 C.O.D. C.O.D.

1262 1263 1266 1264 1265

81,275

29 30 30 30

Centeno, Antonio &Benitez Tantoco Merchandising EagleDynasty contractors Construction

232,000 165,550 186,250

73,886 669,090 210,909 150,500 169,318

7,389 66,909 21,091 15,050 16,932

December Sales

2,292,745

1,275,000

3,243,402

324,342

Prepared by Initial Date

Reviewed by Initial Date

1240 1251 1252

Accounts Receivable

75,805 111,395 208,600 736,000