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, any debit or 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 provides a summary of their accounts receivable activity for a given period, typically a month. It includes the beginning balance, all transactions during the period (sales, payments, debit/credit memos), and the ending balance. This serves as a reminder to the customer of any outstanding balances and can help reconcile their records with the company's records. The other options listed are not comprehensive enough to provide this level of detail for a customer's accounts receivable.

A Document Sent to Each Customer Showing His or Her