Which of the following is a listing of the amount owed by each customer that shows how long each component part has been due?
A) aged accounts receivable trial balance.
B) accounts receivable trial balance.
C) working trial balance.
D) trial balance.

Question

Quizplus · Accepted Answer

An aged accounts receivable trial balance is a listing of the amount owed by each customer that shows how long each component part has been due. It gives a breakdown of the outstanding receivables by the length of time they have been outstanding (e.g., current, 30 days, 60 days, 90 days, etc.) and is used to monitor the payment patterns of customers and identify potential collection problems. The other options, accounts receivable trial balance, working trial balance, and trial balance, do not provide the necessary breakdown by age or length of time outstanding.

Which of the Following Is a Listing of the Amount