Which general ledger document tracks the amount of money that a customer owes for the goods received by the customer?
A)Balance sheet
B)Accounts receivable
C)Accounts payable
D)Income statement

Question

Quizplus · Accepted Answer

Accounts receivable tracks the amount of money that a customer owes for the goods received by the customer, making it the correct choice. The balance sheet shows a company's assets, liabilities, and equity at a particular point in time, while the income statement shows a company's revenues and expenses over a given period. Accounts payable, on the other hand, tracks what a company owes to its suppliers for goods and services received.

Which General Ledger Document Tracks the Amount of Money That