A document sent to each customer showing his or her beginning accounts receivable balance and the amount and date of each sale,cash payment received,credit memo issued,and the ending balance is the
A)accounts receivable subsidiary ledger.
B)monthly statement.
C)remittance advice.
D)sales invoice.

Question

Quizplus · Accepted Answer

A monthly statement is a document sent to each customer that shows their beginning accounts receivable balance and the details of all transactions during the month, including sales, payments received, and credit memos issued. It also shows the ending balance for the month. This statement is used to communicate with customers about their account activity and to request payment for any outstanding balances. The other options listed are not appropriate for this purpose.

A Document Sent to Each Customer Showing His or Her