The accounts receivable credit column of the cash receipts journal is:
A)posted in summary only at the end of the month.
B)posted in summary at the end of the month and by individual amounts on a daily basis.
C)posted by individual amounts at the end of the accounting period.
D)posted by individual amounts at the end of the month.

Question

Quizplus · Accepted Answer

The accounts receivable credit column of the cash receipts journal is posted in summary at the end of the month and by individual amounts on a daily basis. This allows for accurate and timely recording of customer payments and helps to keep the accounts receivable ledger up to date.

The Accounts Receivable Credit Column of the Cash Receipts Journal