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.

Question

Quizplus · Accepted Answer

An aged trial balance lists the balances in the accounts receivable master file by total balance outstanding and by the amount of time the component parts have been outstanding. This report helps management to identify overdue accounts and take appropriate collection actions. The other options (customer list, accounts receivable ledger, and schedule of accounts receivable) do not provide the same level of detail as an aged trial balance.

A Listing of the Balances in the Accounts Receivable Master