In order to properly monitor customer payments and determine the amount of an allowance for uncollectible accounts, a(n) _________ should be generated to analyze all customer balances and the respective lengths of time that have elapsed since payments were due.
A)Bank reconciliation
B)Accounts receivable report
C)Accounts receivable aging report
D)Uncollectible accounts report

Question

Quizplus · Accepted Answer

An accounts receivable aging report provides a breakdown of customer balances by how long they have been outstanding, allowing a company to determine which accounts are past due and how long they have been outstanding. This information is essential in determining an allowance for uncollectible accounts. The other options listed are not relevant to this particular task.

In Order to Properly Monitor Customer Payments and Determine the Amount