After all postings have been made, the total of the schedule of accounts receivable should equal
A)the balance of the Accounts Receivable account in the general ledger.
B)the total of the Accounts Receivable Debit column in the sales journal.
C)the total of all sales on account for the accounting period.
D)the balance of the Sales account.

Question

Quizplus · Accepted Answer

The schedule of accounts receivable should include all outstanding customer balances as of a specific point in time. These balances should match the total of the Accounts Receivable account in the general ledger, as this is the controlling account for all accounts receivable transactions. The other options are not accurate because the schedule should not include all sales on account for the period (only outstanding balances), and the Sales account balance does not necessarily reflect the accounts receivable balance.

After All Postings Have Been Made, the Total of the Schedule