Use the following information to answer 47-50.In his audit o…

Use the following information to answer 47-50.In his audit of Daily Company’s accounts receivable, Hayes has decided to use MUS and has established the following parameters:Risk of incorrect acceptance 5%Tolerable misstatement $100,000Expected misstatement $20,000The company’s recorded balance for accounts receivable is $2,000,000.  Hayes ultimately determined the total upper misstatement limit to be $101,516. What conclusion should he draw given this result?