Question

To see the unpaid balances for vendors, you prepare a ____ report.

a) Balance Sheet
b) Vendor Balance Detail
c) Bill Tracker
d) Unpaid Bills

Answer 1

To see unpaid balances for vendors, a Vendor Balance Detail report should be prepared. It offers detailed information about each vendor's unpaid invoices.

Step-by-step explanation:

To monitor the unpaid balances for vendors, the report you would typically prepare is called a Vendor Balance Detail report. This report provides a detailed view of each vendor's account, including the outstanding amounts and due dates for each unpaid invoice. It's distinct from the Balance Sheet, which gives a snapshot of a company's financial position at a moment in time, or the Bill Tracker feature, which may be used within accounting software to view upcoming bills. A Unpaid Bills report, while similar, may not give as detailed information compared to a Vendor Balance Detail report.