Table of contents

1. Introduction to Accounting1h 21m
2. Transaction Analysis1h 13m
3. Accrual Accounting Concepts2h 38m
4. Merchandising Operations2h 30m
5. Inventory1h 55m
6. Internal Controls and Reporting Cash1h 16m
7. Receivables and Investments3h 8m
8. Long Lived Assets5h 1m
9. Current Liabilities2h 19m
10. Time Value of Money1h 23m
- Time Value of Money Equations
  35m
- Using Time Value of Money Tables
  47m
11. Long Term Liabilities2h 45m
12. Stockholders' Equity2h 15m
13. Statement of Cash Flows2h 24m
14. Financial Statement Analysis5h 25m
15. GAAP vs IFRS56m

7. Receivables and Investments

Types of Receivables

Financial Accounting

7. Receivables and Investments

Types of Receivables

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Multiple Choice

What is another name for the schedule of accounts receivable?

Aging of Accounts Payable

Accounts Receivable Subsidiary Ledger

General Journal

Trial Balance

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Verified step by step guidance

Understand the concept of a schedule of accounts receivable: It is a detailed listing of all customer accounts and their outstanding balances, typically used to track amounts owed to the company.

Recognize that the schedule of accounts receivable is also referred to as the 'Accounts Receivable Subsidiary Ledger.' This ledger provides detailed information about individual customer accounts, supporting the total accounts receivable balance in the general ledger.

Differentiate between the options provided: 'Aging of Accounts Payable' refers to tracking outstanding payables, not receivables. 'General Journal' is used for recording transactions, and 'Trial Balance' is a summary of all ledger accounts, not specific to accounts receivable.

Understand the purpose of the Accounts Receivable Subsidiary Ledger: It helps businesses manage customer accounts, reconcile balances, and ensure accuracy in financial reporting.

Conclude that the correct term for the schedule of accounts receivable is 'Accounts Receivable Subsidiary Ledger,' as it aligns with the detailed tracking of customer balances.