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A receipt for funds received must contain all but which of the following?

(A) The date the funds were received
(B) The account balance after the entry
(C) The amount of the funds received
(D) The identity of the person who tendered the funds
(E) The purpose of the funds
(F) The account the funds were deposited to
(G) The date the funds were deposited

User Omri
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1 Answer

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Final answer:

A receipt for funds received includes details like the dates funds were received and deposited, amount, and purpose, but not the account balance after the entry.

Step-by-step explanation:

A receipt for funds received should document the financial transaction with essential details. However, one piece of information that is not customary to include on a receipt is item (B) The account balance after the entry.

Receipts typically contain (A) The date funds were received, (C) The amount of funds received, (D) The identity of the person who tendered the funds, (E) The purpose of the funds, (F) The account the funds were deposited to, and (G) The date the funds were deposited.

Including the post-transaction account balance on a receipt is not a common practice as this information is often recorded within the company's books or ledgers and not disclosed on receipts provided to the payer.

User Sayo Komolafe
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