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(Solved): which of the following statements are true regarding using the undeposited funds account you should ...



which of the following statements are true regarding using the undeposited funds account you should use the unposted funds account as a temporary holding account to track payments received from customers that have not been deposited to your clients bank account. You should only use the positive funds account if you're using cash basis accounting, you should use undeposited fund so that you can select payments from several accounts, several customers and nine customers to make the total amount deposited at the bank. You should use the end deposit funds account when recording payments received from invoices, but not when recording payments via a sales receipt



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