Which term refers to the list of unpaid accounts by date of service?

Which term refers to the list of unpaid accounts by date of service?

• A. Endorsing
• B. Posting
• C. Debit
• D. Aging schedule

Answer: (D)

The concept being tested is tracking overdue balances by how long they’ve been unpaid. The term for that organized listing is aging schedule. It groups unpaid accounts by age and by date of service, so you can see which balances are current and which are overdue, and prioritize collections to improve cash flow. Endorsing relates to signing over a check, posting is the act of recording transactions, and a debit is a type of accounting entry; none of these describe a report that lists unpaid accounts by date of service.

The concept being tested is tracking overdue balances by how long they’ve been unpaid. The term for that organized listing is aging schedule. It groups unpaid accounts by age and by date of service, so you can see which balances are current and which are overdue, and prioritize collections to improve cash flow. Endorsing relates to signing over a check, posting is the act of recording transactions, and a debit is a type of accounting entry; none of these describe a report that lists unpaid accounts by date of service.