The recorded receivable that exists prior to the payment by a customer enhances control over payments received.

Name: The recorded receivable that exists prior to the payment by a customer enhances control over payments received.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Recording the receivable prior to payment creates a paper trail and allows for proper monitoring of payments received. It also enables the business to keep track of outstanding balances and follow up with customers who are overdue on their payments.

The Recorded Receivable That Exists Prior to the Payment by a Customer