A schedule of accounts receivable is normally prepared

Question

Quizplus · Accepted Answer

A schedule of accounts receivable is a document that lists all the outstanding customer balances at a particular point in time. It is used to keep track of the amount of money owed to a business and to ensure that customers pay their debts in a timely manner. Since it is a summary of all outstanding balances, it would typically be prepared monthly, when the business is closing its books and generating financial reports.

A Schedule of Accounts Receivable Is Normally Prepared