A remittance advice is used as a source document for entering receipts in the cash receipts transaction file.

Question

Quizplus · Accepted Answer

A remittance advice is a document that provides information on a payment made by a customer. It lists the invoice numbers, the amounts paid, and any deductions or adjustments made. This information is used to enter receipts in the cash receipts transaction file. Therefore, the statement is true.

A Remittance Advice Is Used as a Source Document for Entering