The total of the accounts receivable subsidiary accounts and the balance of the accounts receivable control account should equal each other at the end of the period.

Question

Quizplus · Accepted Answer

This is known as the reconciliation process, where the individual balances of the accounts receivable subsidiary accounts are compared and reconciled with the balance of the accounts receivable control account to ensure accuracy and completeness of the accounts receivable balance. Any differences should be investigated and corrected.

The Total of the Accounts Receivable Subsidiary Accounts and the Balance