In updating a computerized accounts receivable file, which of the following would be used as a batch
Question:
In updating a computerized accounts receivable file, which of the following would be used as a batch control to verify the accuracy of the posting of cash receipts remittances?
a. The sum of the cash deposits plus the discounts less the sales returns.
b. The sum of the cash deposits.
c. The sum of the cash deposits less the discounts taken by customers.
d. The sum of the cash deposits plus the discounts taken by customers.
Accounts ReceivableAccounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Auditing An International Approach
ISBN: 978-1259087462
7th edition
Authors: Wally J. Smieliauskas, Kathryn Bewley
Question Posted: