The accounts receivable credit column of the cash receipts journal is "posted in summary at the end of the month and by individual amounts on a daily basis".
Option: D
Explanation:
In general ledger the sums in the debit and credit column are reported personally. The calendar of receivable accounts is lists of all clients 'accounts, account balances, and total amount due. Here the accounts receivable credit column are those in which the cash receipts journal column is the sums that are added separately to the receivable ledger accounts. Although debit column accounts payable are those in which cash payments journal column is the sums that are added separately to the accounts payable ledger.
The cash receipt journal is the records in the books of accounts that records the inflow and outflow of cash during the particular financial year. The cash receipt journal helps in determining the net cash in hand with the business at the year end.
The accounts receivable credit column of the cash receipts journal is "posted in summary at the end of the month and by individual amounts on a daily basis".
Option: D
Reason:
The accounts receivable is the account that record credit sale of goods or services. The entire balance of the accounts receivable is recorded in the credit column of the cash receipt journal at the end of the period.
The cash journal records only the single balance of accounts receivable that is the amount due to be collected from the debtors.
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