Question:A client asked you to review last year's records. You ran the year-end balance sheet and the A/R aging details report as of last year. You prepared both reports using the accrual basis, and the balance sheet looks fine. However, the accounts receivable balance on the balance sheet is very different from the total on the A/R aging details report. What is the problem? 

A There are unapplied payments or credits 
B The A/R report shows the current opening balance 
C The client made several former customers inactive 
D Customer payments remain in Undeposited Funds 

+ Answer
C 

+ Explanation
Answer not sure

+ Report

Md. Habib Ullah

Editor, VCampus

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