Question

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, any debit or credit memo issued, and the ending balance is the

A) accounts receivable subsidiary ledger.
B) monthly statement.
C) remittance advice.
D) sales invoice

Answer 1

A document detailing a customer's transactions and ending accounts receivable balance is called a monthly statement.

Step-by-step explanation:

The document sent to each customer that shows the beginning accounts receivable balance and the amount and date of each sale, cash payment received, debit, or credit memo issued, and the ending balance is known as the monthly statement. This statement serves as a summary of transactions between the business and its customer over a month, allowing both parties to verify the accuracy of the posted transactions and the resultant receivable balance due.