How to Prepare a Schedule of Accounts Receivable?


Schedule of Accounts Receivable/Payable is a compilation of all the individual accounts in the Accounts Receivable ledgers. Make sure the Accounts Receivable balance in the General Ledger equals the sum of the customer balances in the Accounts Receivable ledger. Your schedule should have about six columns; one containing the customer names, another showing their total credit, another depicting net amounts owed by each customer over 30 days, 60 days, 90 days and 120 days. The total of the Schedule of Accounts Receivable should equal the total balance of the accounts receivable shown in the General Ledger.
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