Can you answer this The ending balance of accounts receivable controlling is equal to the total of the: A:schedule of accounts receivable,B:schedule of accounts payable,C:general ledger account,or D:cash in bank account?
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Answer:
Entries made in the sales and cash receipts journal are totaled at the end of the month. This is your control account and it means that after all your posting is completed, the total amount of customer balances in the accounts receivable ledger will be the same as the balance in the control account in the general ledger.
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