A document sent to each customer showing his or her beginning accounts receivable balance and the amount and date of each sale, cash payment received, credit notes issued and the ending balance is the:
A) sales invoice.
B) remittance advice.
C) monthly statement.
D) accounts receivable subsidiary ledger.

Question

Quizplus · Accepted Answer

A monthly statement is a summary of all transactions (sales, payments, credit notes) that have occurred during the month for a particular customer. It shows the beginning balance, all activity during the month, and the ending balance. It is used as a reminder for customers to pay their outstanding balance.

A Document Sent to Each Customer Showing His or Her