Cumberland, Inc., has applied to its bank for a loan. The bank asks Cumberland's controller about the total amount of the company's accounts receivable. Assuming that all accounting records are up-to-date, the controller can best answer this question by referring to:

Question

Quizplus · Accepted Answer

The Accounts Receivable controlling account in the general ledger provides the total amount of accounts receivable, as it summarizes the balances of all individual customer accounts found in the subsidiary ledger.