Use the following information to answer 31-34. In his audit…
Use the following information to answer 31-34. 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 $20,000 The 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?