Describe the purpose of an aging report. What will be an ideal ...

Author Question: Describe the purpose of an aging report. What will be an ideal ... (Read 22 times)

lilldybug07

Hero Member
Posts: 546

on: Jul 12, 2018

Describe the purpose of an aging report.

What will be an ideal response?

Question 2

What general ledger report discussed in this chapter shows income and expenses?

What will be an ideal response?

mmpiza

Sr. Member
Posts: 354

Reply #1 on: Jul 12, 2018

Answer to Question 1

To monitor the accounts receivable; to know what monies are owed the business for how long, and by whom.

Answer to Question 2

Income statement; also called a profit and loss report.

Need homework help now?

Ask unlimited questions for free

Ask a Question

« previous next »

Did you know?

Many supplement containers do not even contain what their labels say. There are many documented reports of products containing much less, or more, that what is listed on their labels. They may also contain undisclosed prescription drugs and even contaminants.

Did you know?

Serum cholesterol testing in adults is recommended every 1 to 5 years. People with diabetes and a family history of high cholesterol should be tested even more frequently.

Did you know?

Approximately 25% of all reported medication errors result from some kind of name confusion.

Did you know?

In 1864, the first barbiturate (barbituric acid) was synthesized.

Did you know?

There are immediate benefits of chiropractic adjustments that are visible via magnetic resonance imaging (MRI). It shows that spinal manipulation therapy is effective in decreasing pain and increasing the gaps between the vertebrae, reducing pressure that leads to pain.