In a cash remittance processing,the open-items accounts receivable file serves as the
A) billing data.
B) credit sales journal.
C) accounts receivable control account.
D) subsidiary accounts receivable ledger.

Question

Quizplus · Accepted Answer

The subsidiary accounts receivable ledger is a detailed listing of individual customer accounts, including transactions such as payments and credits. In a cash remittance processing, this ledger is used to record and track payment information, making it the most appropriate answer. The open-items accounts receivable file may contain billing data, credit sales journal entries, and other information related to customer accounts, but it does not serve as the primary record for processing cash remittances. The accounts receivable control account is a summary account that reflects the total amount owed to the company by all customers, but it does not provide the detail needed for cash remittance processing.

In a Cash Remittance Processing,the Open-Items Accounts Receivable File Serves