A Listing of the Balances in the Accounts Receivable Master

question 18

Multiple Choice

A listing of the balances in the accounts receivable master file at the balance sheet date, by total balance outstanding and by the amount of time the component parts have been outstanding, is the:

• A)customer list.
• B)aged trial balance.
• C)accounts receivable ledger.
• D)schedule of accounts receivable.

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Definitions:

Statement Of Income

A financial statement showing a company's revenues, expenses, and net profit or loss over a specific period.

Purchase Returns

Goods returned by the buyer to the seller due to defects, excess supply, or other reasons.

Sales Discount

A reduction in the price of goods or services offered to customers, typically to prompt early payment or bulk purchases.