The auditor of Lydney Co reviews the receivables ledger at the planning stage for the yearend audit and determines that it comprises a large number of small balances, with a few largerbalances, which are settled, on average, in two months. As in previous years, the reportingdeadline is one month after the year end. Internal controls are considered to be effective andthe error rate is expected to be low.What is likely to be the most effective substantive audit procedure to assist in theverification of year end receivables?
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